Regulatory Compliance

Order Audit Trail System (OATS)


Reconciliation, Validation, Automatic Correction and Reporting

n-Tier provides a comprehensive platform for FINRA OATS validation, reconciliation, pre- and post-submission error correction, and report creation.  n-Tier’s extensive experience in broker-dealer trading, middle office, and operations coupled with in-depth OATS reporting knowledge allow for a robust suite of OATS reporting controls. Pre-submission validations and correction handling allow firms to root out would-be rejects as well as inaccuracies that would be identified on a firm’s OATS report card or during periodic regulator examinations. Our software, support, and guidance allow for our clients to feel comfortable that they have a comprehensive, demonstrable control framework in place that will ensure the accuracy of their regulatory reporting.

Functional overview

  • Comprehensive pre- and post-submission validations of OATS reports, including the following:

    • Field-level, cross-field, and cross-event validations

    • Intra-firm linkage controls spanning business days

    • Comparison to Order Management System (OMS) to ensure completeness of events as well as accuracy of the reported attributes

    • Enhanced controls highlighting potential issues with scenarios that are not explicitly stated in the OATS Technical Specifications

  • Capability to correct OATS report prior to submission to regulator

    • Auto-correct original OATS files based on defined rule set

    • Auto-correct original OATS files from OMS data

    • Bulk manual correction

    • Generation of OATS FORE files with corrected data

  • Dashboard with daily statistics of OATS records and exceptions

  • Display of full OATS Audit Trail allowing for easy review of OATS events in one consolidated screen

  • Options for consolidated and separate exception management dashboards by OMS and MPID

  • Availability of historical OATS Reference Data in an easy to navigate searchable GUI

    • OATS Reportable Securities List

    • Publicly available MPID List

E-mail sales@ntierfs.com to learn more.