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Ironclad Independence: Brokerage Data Automation

Alex Olson
4/6/16 6:33 AM

Since tracking systems for personal investments have existed, manual disclosure has been required for financial instruments. ThinkstockPhotos-122583140.jpgUsers do not enjoy this process, as it is time consuming and distracts from their real job. At the same time, manual disclosure has inherent risk, as users may forget, inadvertently or purposefully, to disclose. While this will be picked up through an inspection process, the damage has already been done.  

Over the past few years, we have optimized and automated a disclosure process that does not require on-going involvement from the users. Brokerage data automation enables users to authorize their brokers to provide the data in a file, which is automatically processed by the system. This automation creates a closed loop – once the trade is completed, it automatically flows to the tracking system. No room for human error; no complaints about the time required to disclose the financial interest.As we have walked down this path with our customers, we have worked through the following challenges:

Operational Efficiency: Considerable amount of data requires secure processing each day; therefore, we have provided automation so that administrative users are not burdened with file processing issues. Our analytical dashboard approach provides a one stop shop to understand how file acquisition and processing is performing in real time.

Capital market differences: Different jurisdictions provide different investment vehicles and different brokers name investments and securities differently. We have developed deep expertise to recognize patterns to consistently connect disparate data to a robust data model.

Aggregators and Clearing Firms: Certain brokers cannot create a feed easily, so we have developed integration feed handlers with aggregators and clearing firms. We have found this materially reduces complexity for our users and our processing.

Data Privacy: In addition to housing the data in a secure data center, we have worked with our clients to address the jurisdictional difference in data privacy around the globe. Through our managed offering, we are able to house data in different geographies; therefore, we comply with data privacy and sovereignty considerations that certain nations have implemented.

As you consider how to optimize the disclosure of financial instruments, we recommend that you take a look at how we have automated this process for our users. The result is lower cost and robust compliance.

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