New York, Jan. 23, 2020 (GLOBE NEWSWIRE) — n-Tier, an innovative technology company helping institutions minimize the risks and costs associated with regulatory reporting, has closed out a record year of growth driven by the expanded adoption of its Compliance Workbench platform to meet a range of regulatory and non-regulatory reporting and validation obligations including Consolidated Audit Trail (CAT) support.
The firm’s Compliance Workbench platform supports CAT, the SEC’s central repository for equity and options transactions, as well as other regulations, including LOPR, OATS, EBS, TRACE, and AML. It provides the technology foundation for a client’s regulatory operations team and enables firms to institute data control processes that ensure the automation and ongoing accuracy of their regulatory reporting.
Commenting on n-Tier’s evolution, Founder and CEO Peter Gargone said: “We are pleased with the recent addition of new clients and the expanded use of our platform for a variety of data management challenges. Our expansion is a testament to our team’s strength and the flexibility of our configurable compliance platform, which has been used by Tier 1 and Tier 2 institutions to support the many regulations that have preceded CAT.”
n-Tier’s Compliance Workbench assists clients in successfully meeting their CAT requirements by gathering, combining, and reconciling all equities and options trading and account data. It aggregates reports from other vendors and produces CAT reports where vendor reports are not available.
“CAT is another example of an expanded regulatory requirement for broker dealers that requires the aggregation of data from across vendors and various front, middle, back-office systems. The current and new clients that have adopted the CAT reporting and validation capabilities on our Compliance Workbench platform have helped to push n-Tier to a record year of growth in 2019. We look forward to working with all our clients on their various regulatory initiatives in 2020 and beyond,” said Gargone.
Executive Vice President at n-Tier, Jeff Bergson commented: “Over our nearly 20-year history, we have continually iterated on our platform to accommodate both changing and new regulations. Our extensive knowledge of brokerages, covering trading, middle-office, and settlement across all asset classes, enables us to provide clients with the level of support they demand. We are happy to be adding new clients to the platform and look forward to supporting all our clients with any data management or regulatory reporting requirements that come their way.”