Execution Compliance & Surveillance (ECS)

ECS is a web-based trade surveillance tool designed to help firms identify, monitor, and evaluate their compliance with the SEC’s and FINRA’s rules related to Best Execution, Trade Surveillance, Fraud Based Manipulative Activity, as well as complex Regulatory Reporting requirements, such as CAT, 605 and 606.

Jordan & Jordan’s ECS Service provides clients with:

  • A Fully Customizable Dashboard – View your compliance overview at a glance by creating custom charts and report cards to view data from multiple perspectives (e.g. trading vs. compliance vs. execution centers.)
  • Create Dynamic, Ad-hoc Reports – Build easy to use charts; sort and filter the data by various analytic types, such as client, symbol, execution venue, side, trader, and more.
  • Detailed Case Management and search capabilities allow users to locate specific orders, executions or other items that are under review, closed, or flagged. Flag or annotate issues for a clean follow-up on individual records or a full report. 
  • Network & Firm Quote Data – Compare trading activity to internal snapshots and/or network data Uses NBBO and/or protected quotes displayed by each market center.
  • Best Execution & Trade Surveillance – NBBO analysis, trade-through, and Reg SHO compliance, as well as identifying trades subject to the limit up–limit down rule.
  • Monitoring Market Abuse – Monitors for spoofing and layering market abuse behaviors with both general and specific criteria and includes criteria to identify any activity prohibited under FINRA Rule 5210.
  • Regulatory Reporting – Reporting pursuant to the SEC’s Consolidated Audit Trail (CAT) and requirements and SEC’s 605 and 606 (order handling and routing), as well as error search capabilities.
  • A Secure Hosted Solution – Securely hosted on Amazon Web Services allowing 24/7 access to the platform from any location. Download excel or csv from hosted platform for further investigation and offline storage.

Order Flow Audit Search

The Order Flow Audit Search module allows users to search through all transactions stored in ECS and locate orders received over the span of one or more days. Upon locating an order of interest, all executions and cancels associated with that order may be viewed, as well as any analytics performed on those executions. This tool is useful to support or supplement both internal and external audits.

To receive more information about Jordan & Jordan’s ECS Service, speak to a professional, or schedule an ECS demo, please contact Chris Montagnino Managing Director of Compliance Services, at 212-655-2934 or send him an Email.