Off Exchange Regulatory Reporting


A national regulator was looking to provide a real-time interface for approved trade matching facilities to allow for off-exchange equity trade reporting. The basic requirements were to provide a low latency customer-facing standard FIX-based trade reporting interface into a legacy proprietary trade reporting facility. The Enodia Technology Platform was chosen as a result of the inherent protocol translation and high-performance messaging capabilities that provided a number of key features:

         Satisfy evolving regulatory trade reporting requirements

         Implement a complete Reg NMS compliant FIX-based trade reporting interface

         Low latency real-time reporting

         Real-time monitoring interface for market operations

         Manage daily reference data and dynamic updates

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