Trade Blotter System is a web based application that manages and logs daily ticket order executions to commercialize financial bonds, encompassing the entire trader buy-sell related workflow. This highly effective tool optimizes the operations and facilitates norm compliance to regulatory entities such as FINRA (Financial Industry Regulatory Authority).
The Trade Blotter System performs clearing through Pershing and/or INTL by sending a daily encrypted file with all the day’s transactions in UTF format approved by Pershing or a CSV file approved by INTL. Through this process, double capture becomes unnecessary. Pershing’s MOPS file format is currently under development. In case it is required, the interface for JP Morgan (formerly Bear Stearns) can be developed.
The System’s interactive module was developed entirely under the MS .NET platform, using C# language with MS SQL Server as the database management system.
The batch part, which comprises the notification of transactions that need to be reported to FINRA, was written in Python and runs in Linux, completely redesigned to work in the new version of FINRA’s website, which was implemented in February 2012.
Since FINRA only permits to download CUSIPs with the daily reportable list to companies that have a Standard & Poor’s CUSIP license, the Trade Blotter’s notification module can be customized to automatically send either a CUSIP or Symbol to FINRA, depending on whether your enterprise owns a CUSIP license or not. This feature allows your company to minimize the cost of reporting to FINRA.