Consolidated Audit Trail (CAT) Solution

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Overview

The Consolidated Audit Trail (CAT) regulations, including CAIS, are triggering one of the largest and most expensive IT rebuilds in the history of capital markets. The increased compliance burden has forced many firms to consider redesigning their existing reporting platforms in order to meet the challenge. The volume of data needed to meet reporting requirements had gone up significantly and the time required to resolve errors has shortened, forcing most firms to adopt bespoke solutions to avoid regulator penalties.

The 3forge AMI platform manages the entire CAT compliance reporting cycle from start to finish, including CAIS requirements. The platform can be implemented at a fraction of the cost and time of comparable product offerings - thereby providing full CAT compliance and significantly reducing operating cost. The solution is highly configurable and is designed to automate the trade reporting and error resolution process as well as maintain and store a transparent audit trail.

Key Features

Seamless Integration to Existing Systems

  • Upload and Consolidate all reportable trading activity using flexible ingestion adapters ensuring consistency and reliability. Managing FDIDs across multiple data sets.
  • Convert and Translate your data into a CAT format ensuring all necessary data attributes are populated across reportable event types, adhering to technical specifications.

Error Investigation & Remediation Tools

  • Submits and Corrects Errors.
  • Generates alerts for errors in the submission or feedback process. Supports all FINRA CAT error codes. Adjusts data and resubmits using error correction tools.

Comprehensive File Status Dashboard

  • Audit and History: Manage all reporting portal activity using a complete audit trail. Recovers previous submissions on demand with report history.

Key Benefits

  • Consolidation of reportable trading activity across all trading platforms
  • Conversion of raw data into a CAT-reportable format
  • Automated reporting and submission to FINRA CAT
  • Complete audit trail of all reporting portal activity
  • Manage CAT submissions in a single interface Interactive and secure audit user environment

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