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
Questions? Email sales@ntierfs.com for more information.