Trade Compliance Analyzer

TRADING COMPLIANCE & REPORTING FOR INVESTMENT MANAGERS

Offering post-trade compliance testing and reporting software solutions for Investment Managers. The platform connects directly to client trading systems providing compliance analysts and traders with timely compliance alerts, risk management workflow tools, and post-trade compliance risk reporting.

BEST EXECUTION
TRANSACTION COST ANALYSIS (TCA)
Compare trade executions to industry standard benchmarks with Markit TCA

  • Monitor execution performance by account, broker, or trading venue;
  • Analyze trading volumes, commissions, and fees for executing brokers;
  • Create best execution compliance reports for Rule 206(4)-7 annual testing.

ASSET CLASS

MARKIT TCA BENCHMARKS

EQUITY

Full Day VWAP
Interval VWAP
Arrival Price
Arrival Price to Close VWAP

FIXED INCOME

EVB End of Day
T-1 End of Day
T+1 End of Day
T-1 through T+1 Average Price

FX

Time-Stamp Mid-Rate
4pm London on Trade Date
4pm London T-1
4pm London T+1

TRADE SEQUENCING
ACCOUNT IMPACT ANALYSIS
Identify side-by-side management issues and evaluate the fairness of order aggregation and trade sequencing procedures. Compare trade executions to internal benchmarks such as volume weighted average price, volume weighted average strategy or model price.

INSIDER TRADING
TRADE PERFORMANCE ANALYSIS
Detect aberrational performance on a trade-by-trade basis and map trades to material market events, earnings announcements, and online news publications.

TRADE ALLOCATION
Compare trade allocations to expected allocations or baseline values for each account. Monitor allocations for fairness to all eligible accounts; identify instances of trade exclusion and potential allocation errors.

MARKET MANIPULATION
Monitor end-of-day, end-of-month, and end-of-quarter trading volumes for each security type, account, or strategy. Detect trading patterns for window-dressing, portfolio-pumping or aggressive trading.

CROSS TRADES
Monitor self-dealing by detecting cross trades, principal transactions, restricted securities, and counter-positions.

SHORT-TERM TRADES
Monitor the frequency of short-term trading activity, identify anomalous trading patterns and unreported trade errors.

LiteAdviserEnterprise
Account Impact Analysis
Allocation Testing
Block Trades
Brokers Analysis & Commission Testing
Cross Trades
Short-Term Trades
Trade Performance Analysis
Volume Profiles
Transaction Cost Analysis
Portfolio Holdings & Turnover
Return Dispersion Analysis
Searchable Trade History
Global News Feed
IHS Markit TCA Data
Global Security Master
Number of UsersUp to 3Up to 10Unlimited
Number of Accounts1 Account1 AccountUp to 3
Data Transfer ProtocolFile UploadSFTPSFTP or API


Whatever your needs, Ascendant will work with you to make compliance a source of strength.

Please call 1-860-435-2255 for more information.

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Latest Content

Schedule 13D/13F Clarity on ETF Issues

Do I need to file a 13D or 13G if my client accounts hold in excess of 5% of an ETF? Generally, no. The SEC has granted no-action relief to ETFs with respect to compliance with Section 13(d) of the Securities Exchange Act. Section 13(d) was designed to require disclosure when holders begin to accumulate … Continued

New Remedy Coming for SEC’s Custody Rule?

The SEC’s Custody Rule continues to be a common source of confusion and a landmine for noncompliance. Custodial paperwork has caused huge headaches for investment advisers, who are not a party to the agreement and may not even have a copy of the custodial new account paperwork. The issue with existing guidance is that it … Continued

SEC Issues MiFID II No-Action Relief

Some industry anxiety was assuaged on October 26 with three no-action letters that offer relief for some US regulated broker-dealers and investment advisers regarding European MiFID II regulations. The letters followed consultation with the European authorities, and are designed to address concerns that investors could lose access to valuable research. MiFID II is a series of regulations … Continued

Regulatory Changes Impacting RICs and Service Providers

A year ago, the SEC adopted Investment Company Reporting Modernization Rules and Forms, as well as rules pertaining to liquidity risk management programs and swing pricing. New forms N-Port and N-Cen along with amendments to Regulation S-X significantly change the current reporting regime for most registered investment companies (RICs) because they require more comprehensive disclosure and … Continued

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Ascendant works together with clients to identify and assess critical needs through customized plans. If you need assistance with compliance functions, regulatory services, cybersecurity or technology tools, we’d love to speak with you.