Rule 15c3-5 compliance control
It all starts with choosing which clients to accept
- Real-time financial risk control
- Real-time credit risk control
- Real-time and end-of-day AML due diligence
- Real-time market access control (orders, symbols, volume, routers, etc)
- Real-time executing counterparty due diligence (real-time redirect)
- Daily client business and risk profile due diligence
Watchmen Engine — Rules-driven real-time and end-of-day compliance and monitoring
The Watchmen Engine provides the transparency and rules-based controls that protect your business and ours, as well as the custodian's, providing your business with the stability it needs to grow.
Financial Information eXchange (FIX) is a standard messaging protocol that allows order management systems to connect with market centers and exchange securities electronically. Our FIX experts have a great deal of experience with the protocol and can show you how to use it more proficiently. There are many benefits to mastering FIX: faster trade execution, fewer system errors, and greater freedom to send trades where you want to send them.
Watchmen Pre-Trade Controls in Real Time
Compliance Monitoring RT
- Rejected orders by reject type, client name, access ID, date/time, symbol
- Cancelled trade monitoring
- Activity monitoring
- Layering and spoofing
- Outsized trading
- Order dominance monitoring
- Buying power overrides
- Position overrides
- Access monitoring
- All exemptions, overrides, adjustments, narrative
Operations Adjustments RT
- Corporate action adjustments
- Option exercise adjustments
- Corrections
Compliance Monitoring RT
- Authorized access check
- Custodian start of day upload verification
- Buying power check
- Trading limit check
- Position check
- Price check
- Restriction check
- Order check
Watchmen Post-Trade Compliance Monitoring
Client Profile Drilldowns EOD
- Holdings
- Orders
- Executions
- Cancels
- Security market cap
- Security liquidity
- Buying power utilization
- Value at risk
Activity details EOD
- Wash sales
- Wash sales with 5 cents
- Spoofing and layering
- Last-minute trading
- Volume dominance
- Low priced stocks activity
- All money moves
- All security moves
Watchmen Routing Control
- Order management rules
- OATS reporting
- Rule 606 reporting
- Custodian connectivity / end of day file