With the advent of more onerous regulatory body legislation such as SEC rule 17a-4, NASD 3010 / 3100, Sarbanes Oxley (SOX) and The Financial Services and Markets Act 2000, plus other directives and anti-money laundering legislation, there is more and more pressure on financial institutions to log and maintain adequate records of dialogues no matter what the source or what medium is used for the dialogue. Furthermore, recent legislation imposes a requirement for frequent audits (by sampling / snapshots) of IM and e-mail traffic to be carried out by banks’ compliance departments / management and for inspection by external authorities at 48 hours notice.
DealHub/Archive acts as a secure central repository that can log and store dealing conversations from multiple sources in a database ready for direct interrogation using the DealHub’s powerful DHView query tool or for delivery to a central IM / e-mail archive.
All interactions (tickets, conversations, price requests) are archived in a SOX Compliant SQL server database capable of storing in excess of 10 years data, supporting investigation of out trades and auditing. DealHub’s ability to support feeds from a range of diverse dealing sources including Reuters D3000 and FX Connect and map the conversations and tickets into a standard format makes DealHub unique in the FX marketplace.
DealHub meets regulatory body requirements (such as those of the Federal Reserve and the Bank of England) in terms of data retention, data quality, time stamping (per line for Reuters conversations), query analysis and reporting and provides the ability to archive to highly resilient WORM (Write-Once,Read-Many) media on a scheduled basis. DealHub is currently in use for SEC compliance in several customer locations as a sole application, and also as a facilitator of data transfer to e-mail compliance products.
Business Benefits
- satisfies regulatory body compliance requirements
- additional benefits of eradicating dealing room printers saving on human resources and space as well as optimising dealing code up-time
- provides a platform for resolving investigations in a fraction of the normal time
For more information on DealHub Compliance Solutions, click here
