Capital Market Solutions (CMS) is a leading provider of Regulatory Surveillance, Compliance and Reg Reporting platform. RSMS by Capital Market Solutions is a proven and trusted compliance platform being widely utilized for CAT, CAIS reporting and Trading Compliance. RSMS product is already integrated with a wide range of OMS and EMS platforms and is ingesting data for a variety of broker-dealer clients, offering seamless and fast onboarding. RSMS offers streamlined operations and monitoring systems, delivering best-of-the-breed on-time delivery and unparalleled rejection rates.
With growing needs in the marketplace and requests from its customer base, CMS is enlightened to introduce 605/606 reporting in its existing Reg Reporting platform, RSMS. With its decades of industry experience and expertise in Reg Reporting, CMS added 605/606 reporting to RSMS, closely integrating with existing CAT and CAIS reporting, making it easy to onboard and efficient workflows for the compliance team.
Before we get into how RSMS takes the weight off your compliance workload, let’s get clear on what SEC Rule 606 actually requires.
What SEC Rule 606 Really Needs
SEC Rule 606 is designed to bring transparency to how broker-dealers route customer orders. It ensures investors understand where their trades are sent, why they’re routed there, and how these decisions may impact execution quality.
Under Rule 606, broker-dealers must:
Publish quarterly public reports showing how they route non-directed customer orders in NMS stocks and listed options. These reports must be available in both PDF and XML formats and released soon after each quarter ends.
Provide customer-specific routing information on demand, including details about the venues to which that customer’s orders were routed.
Send a written copy of the requested report free of charge if a customer asks for it.
Why the Reporting Process Is So Challenging
While the rule sounds simple on paper, the actual reporting process is anything but. Broker-dealers must collect enormous amounts of execution, routing, fee, and other data from various internal systems and external partners. Once the data arrives, it needs to be cleaned, standardized, validated, and formatted according to SEC requirements, and then posted publicly in PDF and XML formats, submitted to FINRA, and provided to customers upon request.
That’s a huge undertaking for any firm, especially those relying on manual processes or legacy tools. Even minor data inconsistencies can lead to compliance concerns, making smart RegTech support essential.
RSMS: Your Reliable SEC Rule 606 Reporting Partner
RSMS by Capital Market Solutions is designed to simplify the complicated world of regulatory reporting. It is a secure, cloud-hosted platform built to support broker-dealer firms with accurate, automated, and seamless SEC reporting. With its modern infrastructure, smart integrations, and intuitive interface, RSMS removes the burden from your team and ensures compliance is consistent and stress-free.
Instead of struggling with verifications and last-minute filing rushes, firms using RSMS enjoy a smooth workflow that handles everything from data ingestion to final submission.
- Trusted, secure cloud-hosted platform
- Integrated with a wide range of OMS & EMS platforms
- Streamlined monitoring and operations
- Data management and Reporting
- Intuitive user interface
Seamless Data Ingestion and Processing
One of the biggest advantages of RSMS is that it takes over the entire complexity of data handling with its datamart, so you don’t have to. RSMS is well-equipped to manage broker-dealer firms and market centers clients’ execution details, routing information, and fee/rebate data. It transforms the data, standardizes it, and runs strict integrity checks based on SEC requirements.
Once everything is validated, RSMS processes and enriches the data for reporting and surveillance. The result? Clean, accurate, compliance-ready data without the usual manual effort or the risk of costly errors. RSMS makes it effortless.
Complete Support for Reporting, Consultation, and Surveillance
RSMS doesn’t stop at data processing. Our smart platform ensures that all 606 data is properly formatted for public posting, FINRA centralization, and customer-specific report delivery. Firms benefit from expert guidance on data governance, audit readiness, and compliance frameworks, making the entire reporting process well-structured and fully compliant. The platform also supports cross-regulation surveillance, giving firms the ability to analyze data across Rule 605, Rule 606, and CAT. This integrated oversight helps maintain consistency, reduce discrepancies, and improve overall reporting quality.
Easy to Manage and Fully Integrated Workflows
RSMS brings all your compliance tasks into one smooth, connected workflow, so everything is easy to manage from start to finish. It integrates firm-specific and reference data, including venue rates, ensuring accuracy without manual updates. You also get customer on-demand reports whenever needed, along with seamless review and verification steps built directly into the platform. RSMS also handles public reporting effortlessly, keeping you compliant without the chaos.
Looking Ahead: 605 Reporting Coming Soon
At Capital Market Solutions, we’ve been paying close attention to what our clients need, and we’re acting on it. Since Rules 605 and 606 go hand-in-hand, RSMS is expanding to give you a complete, unified compliance experience. While our platform now supports Rule 606 reporting, we’re checking client needs for the Rule 605 reporting module to make sure broker-dealer firms can manage both requirements seamlessly within one system. Your needs drive our innovation, and this expansion is our way of making compliance even simpler, smarter, and more integrated for you.
Turn SEC Rule 606 Complexity Into Clarity
n a regulatory environment where precision, transparency, and reliability are essential, RSMS ensures that SEC 606 reporting is not just manageable but effortless. Instead of getting stuck in data complexities and operational challenges, broker-dealer firms can focus on clients and growth while RSMS takes care of the compliance load behind the scenes.
If your firm is looking for a smarter, streamlined, and more dependable way to manage regulatory reporting and SEC 606 compliance, RSMS can be your perfect RegTech partner that delivers confidence and simplicity at every step.
Feel free to connect with our team and learn more about RSMS SEC 606 Reporting.