Kx FOR CAT

The time has come: Consolidated Audit Trail (CAT) reporting for the US Broker-Dealer community will begin in the spring of 2020.

CAT requires the collection, transformation, and reporting management of a far more complex and comprehensive dataset than its predecessor regulatory report, the Order Audit Trail System (OATS). Long-term planning requires a solid foundation that’s built to support future expansion. CAT’s requirements will grow layer upon layer over the years-long phase-in period, and it demands a proper solution approach to rules and data governance.

Kx for CAT is that solution. From managing the myriad daily User workstreams to proper handling of back end data governance controls with flexibility and transparency, Kx for CAT is full stack. It manages data ingest through normalization, error detection and remediation, report creation, and data storage. Kx for CAT is a reporting eco-system that is able to do it all. The solution is configurable in nature, such that components that are not needed can be hidden or disabled. Kx for CAT is your tool to license and operate, enabling your data for CAT reporting today, while preserving the option to leverage it for simultaneous use by multiple applications tomorrow and beyond. License only the capabilities you choose to use.

If your broker-dealer has a large volume of CAT reportable order event messages, or a complex array of trading systems that generate or touch those CAT messages, Kx can help.
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Kx FOR CAT

A comprehensive reporting ecosystem

CAT Schema Data Normalization Error Detection Rule Engine Forensic Investigation Visuals Batch Error Remediation Reconciliations and Validations Case Management & Audit Log

CAT SCHEMA DATA NORMALIZATION

Kx for CAT provides a CAT schema ETL engine to transform your source system messages, representing your unique trading flow scenarios, into CAT reportable order event lifecycles.

Whereas other vendor solutions require your firm to pre-normalize order event messages into a CAT reportable format, at Kx it’s your option. This transformation logic is ideally maintained inside our solution to best defend your reporting interpretations while managing future reporting guidance updates without disrupting your BAU processes, but the choice is yours.

ERROR DETECTION RULE ENGINE

Kx for CAT comes with a complete set of pre-configured syntax and context rules for error remediation prior to your first CAT report submission. This will help reduce the risk of having your Analysts run out of time when correcting FINRA-CAT discovered errors. Without a pre-submission Error Detection Engine, your time window to remediate errors is 44 hours. With it, that time window more than doubles. The Kx ship set of rules can be turned on or off individually, and your firm can supplement the set of pre-submission checks with your own custom rules.

FORENSIC INVESTIGATION VISUALS

Faster root cause analysis is critical to error remediation, and Kx for CAT’s state-of-the-art visualization and investigation tools will accelerate discovery. When an Analyst selects an identified error group to investigate, the solution will present a sample set of order events in the grid while the full body of affected messages remain server side but still represented in the HTML5 order lifecycle visualizations. The Analyst can drill-in, filter or join data sets to quickly reach their “a-ha” moment: the truth about an errors cause.

BATCH ERROR REMEDIATION

Kx for CAT identifies and groups all messages that contain the same error type, whether by pre- submission error detection or post-submission error presentation of the FINRA-CAT remediation file. The Analyst then performs forensic analysis and decides upon a course of error remediation. Once the corrective rule is tested against the errored data set and confirmed to accurately achieve its objective, the rule is put into production, instantly correcting all known messages to have been affected by the same problem. All subsequent messages arriving in the solution pass through the Remediation Rules library for auto-correction if they too are affected by the same problem.

RECONCILIATIONS & VALIDATIONS

Understand your data by leveraging multiple reconciliation and validation checks as well as summary reports, for better business intelligence. Data flows are mapped into Kx for CAT in concert with you, the broker/dealer, in order to document your unique order event lifecycles as they traverse your trading ecosystem. In this manner you’ll represent all flows in their proper CAT reportable formats. Kx for CAT can further perform reconciliations against your firm’s day-to-day trading activities such as execution drop copies or books and records.

CASE MANAGEMENT & AUDIT LOG

Perhaps the most important element of the Kx for CAT ecosystem is our sophisticated case management solution, Action Tracker. It holistically binds the solution together by managing all workflow processes that require transparent governance controls and auditability. Whether that’s a case escalation for approval, a ticket export to an external project management tool like Jira for upstream correction at the source cause, or the logging of a rule created to remediate an error or affect a schema mapping change, Action Tracker manages it all.
Kx Technology

Kx TECHNOLOGY

The basis for Kx Technology is a unique integrated platform which includes a high-performance historical time-series columnar database called kdb+, an in-memory compute engine, and a real-time streaming processor all unified with an expressive query and programming language called q.

Designed from the start for extreme scale, and running on industry standard servers, the kdb+ database has been proven to solve complex problems faster than any of its competitors.

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The kdb+ time-series database, at the core of Kx Technology, is renowned for its computational speed and performance, as well as the simplicity of its architecture for large-scale data analytics.

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