Reconciliation and Validation

Functional Overview

  • Full, daily reconciliation of front-office trade blotters with FINRA TRACE reports to ensure all reportable transactions were reported and validations for various fields, including but not limited to contra party, modifiers and capacity
    • Includes identification of transactions in securities not on FINRA’s eligibility lists
  • Historical repository of transactions in securities not on FINRA’s TRACE eligibility lists on trade date to alert if the security is subsequently added to FINRA’s TRACE eligibility lists
    • Post-trade date matching to confirm a TRACE report is ultimately submitted
  • Full, daily reconciliation of back-to-back trades with affiliates by matching to the customer/dealer trades. In addition, monitoring of potential back-to-back trades missing the required affiliate special processing flag
  • VCON reconciliation control replicating common FINRA examination tests whereby they review the execution time captured in the VCON vs. the time of execution the firm reported in the TRACE report
    • Replaces a labor-intensive and manual ad-hoc review, by automatically matching and reconciling timestamps on an ongoing basis

Questions? Email for more information.