The trend is clear
Regulatory reports have historically been generated by batch processes from a single-purposed and separately maintained database – the classic data silo. Trends in global regulatory reform however are cause to consider a bigger picture.
CAT, and its known Expansion Plan, provides a near-term roadmap for US reporting standards. A closer look suggests it is part of a trend towards more performant compute demands from the reporting technology stack, and forward-thinking technologists will need to consider the long-term implications of today’s CAT reporting decisions.
Choosing the Right CAT Solution
The Kx for CAT framework offers sophisticated permissioning entitlements and access controls that integrate with your existing permissioning systems. Roles include Supervisory and Report Analyst, as well as others, custom-defined by use case (capturing complex relationships or data access rights such as Clearing Broker or Custodian Bank vs. Introducing Broker etc). Views are assigned to roles or certain Users within a role, including: systems monitor, CAT report submission summaries, exception management console, trend analyses, audit logs and summary reports.
Automated exception identification, market reconstruction and more
A real-time rule-based engine will automatically identify malformed fields in each message and recommend the appropriate fix when analysis of proximity fields presents a high confidence option. Real-time reporting is available.
Kx for CAT can also produce market reconstructions using compressed time frames and specific before/after state recreations for audit log inquiries, with full attribution as to which Analyst did what, when. Data request returns are completely flexible and extremely fast.
Capturing the CAT Opportunity
You might simply use your CAT budget to tactically build a CAT reporting system, or you might view CAT reporting through a different, more strategic lens. Our underlying framework is purpose-built to flexibly evolve, in addition to preserving the future option of scaling the data-store to simultaneously serve multiple applications and purposes.
Please contact us today to discuss how Kx for CAT can serve as the first step of a more strategic roadmap for taking control and ownership of your CAT reporting and related data.
Getting ready for CAT
Kx is currently discussing the CAT NMS Plan with US broker-dealers that are obligated to comply. To schedule an initial meeting please contact Adam E Dix, our NYC- based Director of Regulatory Reporting, at
To keep up-to-date on the latest news on the CAT roll out plan and technical specifications visit the CAT NMS Plan website.
CAT Reporting Timeline for Members
For independent speed and performance benchmarking research about top-ranked Kx technology, you can find a number of Securities Trading Analysis Center reports here.