RSMS is a surveillance and monitoring system, which ensures that the firm has adequate surveillance capabilities for visibility and oversight of their Trading practices.
The catalyst for the launch of RSMS is the proposed introduction of the new Consolidated Audit Trail (CAT) by the Securities and Exchange Commission (SEC). RSMS provides a framework and also a complete solution for firms to comply with Trading rules and regulations by tracking life-cycle of order, when and where transactions occur, the brokers who handle them, and the customers they represent as the proposal mandates.
RSMS is a “one stop shop” for any regulatory and compliance related inquiries, including queries from TAMS examiners. RSMS captures each order event, routes, executions, trade bust, OATS ROEs and market-data and ties it together, independent of your trading system, and performs regulatory surveillance checks. RSMS establishes a full life cycle of an order (like the regulators do) to fulfill regulatory investigation requirements. Users don’t have to switch from one system to another system during the trouble-shooting or investigation.
Combined with data retention and retrieval capabilities, RSMS truly offers a complete compliance solution, in addition to eliminating internal/external costs for maintaining and storing the Trading and Regulatory reported data.