The OATS Consolidator is a broker-neutral compliance solution, providing accurate and full-service OATS reporting for broker-dealers who use multiple trading systems. Our solution, the only one in production use by over 30 major broker-dealers, integrates your OATS records from diverse trading platforms into a single submission to FINRA.
Why do I need OATS Consolidator?
When you use multiple trading platforms process orders, each system can report only a part of the OATS requirements: one system submits all inbound reportable events, while the other submits all outbound reportable events.
Due to the lack of matching order IDs and complete transaction flow information, broker-dealers with multiple platforms are often out of compliance with the regulations and are subject to significant fines from FINRA.
How does the Tradeware resolve this?
The Tradeware OATS Consolidator receives all of the OATS records from each of your third-party systems and merges them back to the orders maintained at Tradeware. The OATS Consolidator ensures the timestamps and the order IDs are correctly matched and submits a single, consolidated OATS file to FINRA on your behalf.
We also provide a full-service solution for your OATS submission, checking that the submission has been accepted by FINRA. Our experienced compliance professionals investigate and resolve any issues that occur, providing you with worry-free OATS management.
OATS Consolidator is available with our MarketCenter and GlobalX(TM) products as well as a stand-alone compliance solution to be used with third party or proprietary systems.
How do I get started?
We recognize that each client has different order flow and reporting needs. We already work with most major OMS vendors as well as proprietary in-house systems. Our first step is to understand the OATS reporting implications of your existing order flow and provide you with a detailed description of the proposed solution.
To initiate this process, please contact us at compliance@tradeware.com.