Description
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Trade Blotter ® System Description

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.

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The System is currently in production and is meant to be competitive to similar platforms while offering great flexibility from a very user-friendly and interactive interface. It is an excellent alternative for small to medium size Broker Dealers who do not wish to pay large sums of money for access to similar platforms.

 

The System allows users to modify tickets in a very flexible manner. It reflects any modified fields by displaying the previous and the current values highlighted on the screen. Additionally, a supervisor role must authorize any ticket modification or cancellation.

 

The Application classifies the counterparties by category, allowing users to trade different face limits according with each category. If the face surpasses the category’s limit, the transaction has to be authorized by a manager. All the System limits can be customized, and therefore can be modified by the System Administrator according to each firm’s parameters.

 

As an option during the initial setup, if the client’s securities, counterparties or internal clients lists are highly populated, the customer also has the option to provide Phoenix Soft with an excel or text delimited file with the aforementioned data, which would then be uploaded to the Trade Blotter’s database for a small fee.

 

Each of the System’s users belongs to an assigned group. These groups are mutually exclusive, with unique internal clients; therefore, the user is unable to negotiate with internal clients that do not belong to the sales person’s own group. However, if the business requires a user to have access to all the internal clients, it can be easily configured by assigning a specific trader to a “power user role”.

 

When adding Tickets, the Application automatically calculates the accrued interest, thus exempting the user from having to obtain that information from another source.

 

To avoid transactions delays, the System administrator receives a notification whenever there are tickets pending authorization.

 

Access to our online E-Learning manual is available upon request.

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