Optimizing Compliance: A Broker-Dealer’s Path to Cost-Effective CAT Reporting

challenge

Best Approach To Fulfilling CAT Reporting

A leading broker-dealer faced a regulatory mandate to comply with SEC Rule 613, also known as the Consolidated Audit Trail (CAT), for their cash equities sales & trading operations. They needed to determine the most effective approach to meet these new regulatory requirements, whether through building a custom solution or purchasing an existing vendor product. Our expertise in both understanding the potential build requirements and the ability to comprehensively review third party systems made us the right partner for this engagement.

solution

Comprehensive Build vs. Buy Analysis

Our strategic assessment provided the broker-dealer with crucial insights to make an informed decision on their CAT compliance approach. By thoroughly evaluating both custom development and vendor options, we helped the client identify the most cost-effective and efficient solution for their specific needs.

results

Risk Reduction, Cost Savings

The broker-dealer adopted our recommended solution: purchasing a vendor product. This decision allowed them to:

Reduce Risk: Leverage a proven, scalable vendor solution with a track record of reliability in CAT compliance.
Lower Costs: Avoid the significant upfront investment and long-term maintenance costs associated with building and maintaining a custom system.
Achieve Timely Compliance: Meet regulatory deadlines without compromising operational efficiency or resource allocation.

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Optimizing Compliance: A Broker-Dealer’s Path to Cost-Effective CAT Reporting

Best Approach To Fulfilling CAT Reporting

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