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Counterparty Manager: Electronic Trading Compliance

Supporting the exchange of information for electronic trading due diligence

Electronic Trading Compliance is a regulatory module within our Counterparty Manager platform that enables you to easily and efficiently exchange information for electronic trading due diligence and algorithmic trading regulations. The module allows you to comply with multiple regulatory regimes and customize due diligence questionnaires to support local requirements, including the ability to distribute and track algorithm training material. You receive an electronic questionnaire, training review and sign-off capability designed by a number of industry associations, including AFME/TIA, AIMA, ASIFMA, ATF, FPL HKIFA, and AFME DEA to help buy-side firms and brokers gather and exchange the information necessary to meet their due diligence requirements.

According to Hong Kong Securities and Futures Commission’s (SFC’s), Hong Kong-licensed brokers are required to attest that their electronic trading systems are properly supervised, tested and risk managed, and their customers are required to acknowledge that they understand their brokers’ algorithms and other technologies. With Electronic Trading Compliance, you also get access to the Equities Order Handling Questionnaire created by AFME and The Investment Association, which supports the European Economic Area best practices for broker due diligence. You can add customized questions or create an entirely new questionnaire to easily upload and distribute to trading partners through the platform.

Through the Electronic Trading Compliance, module broker dealers can centrally manage the distribution of their electronic trading material by uploading their answers as required in the questionnaire and sending them to their buy-side counterparties. Buy-side firms can then review the answers from each broker dealer and electronically acknowledge that they have done so. This acknowledgement will be transmitted directly to their counterparties, allowing sell-side institutions to see which customers have fulfilled their compliance requirements.

The Electronic Trading Compliance modules are distributed via Outreach360, which allows users to send the modules to all of their clients, and provides a centralized solution for reporting, tracking and auditing.

Key benefits:

  • Simplify due diligence – An easy-to-use online platform for uploading, updating and distributing counterparty documentation
  • Enhance efficiency – Streamline back-office document management processes by replacing manual, bilateral processes with standardized, automated information collection and exchange
  • Address regulatory compliance – Comply with increased due diligence obligations as outlined by MiFID II, CFTC guidelines, and Hong Kong SFC electronic trading rules
  • Reduce costs – Reduce costs with a single, centralized platform that supports compliance with multiple regulatory requirements across regions
  • Increase security – Exchange confidential documentation securely through a single web-based portal which provides full visibility into client interactions and responses

Customers and Regimes

  • Brokers
  • Asset managers
  • Hedge funds
  • Fund administrators
  • Regulated Market (RM)
  • Multi-lateral Trading Facilities (MTD)
  • Organized Trading Facilities (OTF)
  • Swap Execution Facilities (SEF)
  • Hong Kong Securities and Futures Commission’s (SFC) electronic trading rules on Code of Conduct (Paragraph 18 and Schedule 7)
  • European Economic Area through the TIA/AFME European Equity Order Handling Questionnaire
  • US/Regional questionnaires, which can be automatically uploaded
  • Multiple jurisdictions: custom buy-side or sell-side questionnaires

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