TRACE Trade Reporting and Compliance Engine

Reconciliation and Validation

Functional Overview:

Full, daily reconciliation of front-office trade blotters with FINRA TRACE reports to ensure all reportable transactions were reported and validations for various fields, including but not limited to contra party, modifiers and capacity
- Includes identification of transactions in securities not on FINRA’s eligibility lists
Post-trade date matching to confirm a TRACE report is ultimately submittedHistorical repository of transactions in securities not on FINRA’s TRACE eligibility lists on trade date to alert if the security is subsequently added to FINRA’s TRACE eligibility lists

- Full, daily reconciliation of back-to-back trades with affiliates by matching to the customer/dealer trades. In addition, monitoring of potential back-to-back trades missing the required affiliate special processing flag
  - Replaces a labor-intensive and manual ad-hoc review, by automatically matching and reconciling timestamps on an ongoing basisVCON reconciliation control replicating common FINRA examination tests whereby they review the execution time captured in the VCON vs. the time of execution the firm reported in the TRACE report
Replaces a labor-intensive and manual ad-hoc review, by automatically matching and reconciling timestamps on an ongoing basis