{"id":16157,"date":"2020-11-12T03:00:56","date_gmt":"2020-11-12T08:00:56","guid":{"rendered":"https:\/\/sandbox.solidcert.com\/liquiditybook\/liquiditybook-launches-standalone-cat-reporting-solution\/"},"modified":"2021-08-31T12:22:35","modified_gmt":"2021-08-31T12:22:35","slug":"liquiditybook-launches-standalone-cat-reporting-solution","status":"publish","type":"post","link":"https:\/\/sandbox.doesnotexpire.com\/liquiditybook\/liquiditybook-launches-standalone-cat-reporting-solution\/","title":{"rendered":"LiquidityBook Launches Standalone CAT Reporting Solution"},"content":{"rendered":"

Early clients, including industry-leading outsourced trading solutions provider Tourmaline Partners, see immediate cost, performance and functionality benefits<\/em><\/p>\n

NEW YORK \u2014 November 12, 2020 \u2014 LiquidityBook, a leading Software-as-a-Service (SaaS)-based provider of buy- and sell-side trading solutions, today announced the launch of a new Consolidated Audit Trail (CAT) reporting solution. CAT reporting has always been among the sell-side reporting functionalities available to LiquidityBook\u2019s OMS customers, but demand from non-OMS clients prompted the firm to develop a solution on a standalone basis for those who using either a competing OMS or no OMS at all.<\/p>\n

The new functionality will help broker-dealers \u2013 including Outsourced Trading firms using LiquidityBook\u2019s LBX Outsourced Trader platform<\/a> \u2013 navigate the transition from Order Audit Trail System (OATS) reporting to CAT reporting. The phased rollout of the new reporting regime began earlier this year, and Phase 2a \u2013 in which large industry members and small OATS reporters alike must begin reporting firm-to-firm linkage validations and equity exchange and TRF linkage validations \u2013 began on October 26<\/a>.<\/p>\n

The solution, which was soft launched to a select group of high-performance clients earlier this year, will be particularly impactful for firms that do not use an OMS and whose EMS providers do not support CAT reporting. Already, LiquidityBook has onboarded several clients whose previous systems could no longer support the reporting requirements of the new regulatory order.<\/p>\n

\u201cGiven that the CAT has had an enormous effect on how trading firms handle their customer data, we saw a large amount of interest from firms whose existing OMS and\/or EMS provider could not provide the reporting capability for one reason or another, leaving firms with a very clear business risk to their organization \u2013 perhaps rendering it inoperable,\u201d said Sean Sullivan, Chief Revenue Officer at LiquidityBook. \u201cOur team has built a solution that will help the industry navigate this shifting regulatory landscape. We are pleased to be able to fill the void and offer CAT reporting to players who were underserved by their previous systems as well as our existing clients.\u201d<\/p>\n

\u201cThere is no question that the implementation of CAT has created new complexities from a compliance standpoint,\u201d said Daniel Dispigna, Chief Operating Officer at Tourmaline Partners<\/a>, an industry-leading outsourced trading solutions provider and longtime LiquidityBook client. \u201cWorking with LiquidityBook allows us to meet these challenges with as much efficiency as possible. Their reporting solution is robust and versatile, helping us satisfy our own reporting requirements as well as serve the needs of our diverse and growing client base.\u201d<\/p>\n

The new CAT reporting tool is the latest addition to LiquidityBook\u2019s suite of regulatory reporting solutions. The firm has offered MiFID II reporting tools since the framework\u2019s implementation in early 2018, and more recently it upgraded its SEC Rules 605 and 606 reporting toolkit to meet the new requirements introduced earlier this year.<\/p>\n

About LiquidityBook<\/strong><\/p>\n

LiquidityBook is a leading SaaS-based provider of buy- and sell-side trading solutions, including order management, portfolio management, execution management, FIX network connectivity, compliance and pre- and post-trade processing. Founded in 2005, the LiquidityBook platform is trusted by many of the industry\u2019s most sophisticated buy- and sell-side firms globally to power their trading workflows. For more information please visit www.liquiditybook.com<\/a> or contact sales@liquiditybook.com<\/a>.<\/p>\n

Media Contact<\/strong><\/p>\n

Sam Belden<\/p>\n

Forefront Communications for LiquidityBook<\/p>\n

212-320-8986<\/p>\n

sbelden@forefrontcomms.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Early clients, including industry-leading outsourced trading solutions provider Tourmaline Partners, see immediate cost, performance and functionality benefits NEW YORK \u2014 November 12, 2020 \u2014 LiquidityBook, a leading Software-as-a-Service (SaaS)-based provider of buy- and sell-side trading solutions, today announced the launch of a new Consolidated Audit Trail (CAT) reporting solution. CAT reporting has always been among …<\/p>\n

LiquidityBook Launches Standalone CAT Reporting Solution<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":16607,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-16157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"\nLiquidityBook Launches Standalone CAT Reporting Solution - LiquidityBook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandbox.doesnotexpire.com\/liquiditybook\/liquiditybook-launches-standalone-cat-reporting-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LiquidityBook Launches Standalone CAT Reporting Solution - LiquidityBook\" \/>\n<meta property=\"og:description\" content=\"Early clients, including industry-leading outsourced trading solutions provider Tourmaline Partners, see immediate cost, performance and functionality benefits NEW YORK \u2014 November 12, 2020 \u2014 LiquidityBook, a leading Software-as-a-Service (SaaS)-based provider of buy- and sell-side trading solutions, today announced the launch of a new Consolidated Audit Trail (CAT) reporting solution. 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