Auto-Trade Reconstruction

Effortlessly recreate the conditions surrounding any trade or order

The regulator can at any point ask you to recreate all the conditions surrounding a trade or order. This can be for a specific trade with a specific client, or every trade over a particular period of time, and you may only be given 72 hours to comply. 

BACKGROUND

Under MiFID II, Dodd-Frank and other global regulations, financial services firms are required to store records of all activities and transactions, show evidence that they acted in accordance with their best execution policies and demonstrate continuous oversight and control, among other obligations. 

As part of the regulator's mandate to ensure that firms are meeting these requirements, they can request a copy of all the details surrounding a particular trade or order, or even every trade over a particular period of time.

This requires firms to have the ability to quickly extract information relating to their trading and business activity. However, considering the wide range of events that can relate to a single trade, this can both complex and arduous.

Smarter Compliance

SteelEye seamlessly captures all of your structured and unstructured data across any asset-class, communication type and system – unifying it under a single lens, where it is cleansed, normalised, indexed and made instantly retrievable. The platform thereafter looks at any given scenario or piece of data and simultaneously brings together all information that is deemed to be relevant, such as relating communications or transactions as well as independent pricing. 

By accepting or rejecting these "suggestions" the systems learns as it goes along, becoming better at reconstructing each scenario. This means that firms can immediately dive into a trade or order and automatically see all the relating phone calls, meetings, WhatsApp messages, as well as finding out information about the trade/order itself.

How it works

At single order or trade resolution, transaction data is overlaid with related communications data as well as independent pricing. At the click of a button, these records can be added to an existing case or used to create a new case. Once you have added all relevant records to a case, this can then be easily exported from SteelEye, ready to be submitted to the regulator. As a result, your trade reconstruction takes moments rather than days.