Reconciliation, Validation, Automatic Correction and Reporting

n-Tier has extensive experience in EBS report validation, correction, remediation, historical reporting assessment and re-submission. We have in-depth experience of EBS regulatory reporting requirements coupled with extensive brokerage experience covering trading, middle-office, and settlement across all asset classes. We provide clients with the Compliance Workbench, the only platform which can programmatically unwind the complexity of trade flows front to back to ensure the accuracy of data. For our clients, we are a valuable resource for finding, assessing, and remediating all EBS regulatory reporting issues. Using our platform, we help firms implement data quality and control standards leading to accurate reporting to the regulators, while saving time and money.

Common Uses of the Compliance Workbench for EBS Reporting Include:

  • To perform comprehensive validation of data going into EBS repositories daily
  • To review and identify issues for each EBS submission – identifying all reporting issues
  • To auto-correct submissions based on comparisons to all trading sources
  • Detect and correct complex data compression issues where EBS submissions are created off compressed data in settlement systems
  • Detect missing data from EBS submissions including internalized trades which by default do not flow into settlement system
  • Detect and correct all reference data inconsistencies
  • To perform multi-year historical review and correction of submissions where clients are under regulatory review
  • Provides statistic reports to lawyers and regulators for overall scope and quantity of errors in historical submissions
  • Provides a roadmap to regulators for regulatory control processes demonstrating an approach to ensuring the accuracy and completeness of reports

Case Study

A large broker signed on with n-Tier to provide an analysis of two years’ worth of Blue Sheet submissions, over 10,000 in total. We integrated with six order management systems, the back office, and the customer reference data repository. We loaded seven years’ worth of trading data from each of those systems, then put our software to work running through thousands of submissions over the two-year period. We provided a report that showed how many submissions included compressed trades, as well as the number of trades that were missing from the Blue Sheets due to the compression. In addition, the software identified other inaccuracies, ranging from bad customer data to gaps in trading data.

We then worked with the client to configure rules in n-Tier and produced auto-corrected EBS re-submission files for each of the affected requests. While also using Compliance Workbench to implement a daily process to review and auto-correct all EBS submissions on a going forward basis reducing overall regulatory risk.

Questions? Email for more information.