Execution Compliance and Surveillance Service
Jordan & Jordanís Execution Compliance and Surveillance Service (ECS) helps firms evaluate and demonstrate their performance in complying with the SECís and FINRAís rules related to Reg NMS, Short Sale Amendments, and execution quality. Specifically, these rules include:
- Limit Up-Limit Down (SEC Rule 608)
- Best Execution/NBBO (FINRA Rule 5310)
- Order Protection Rule (SEC Rule 611)
- ISO Order Routing and Quote Analysis (SEC Rule 611)
- Amendments to Reg SHO (SEC Rule 201)
- Disclosure of Order Routing Information (SEC Rule 606)
ECS enables clients to monitor the effectiveness of their required policies and procedures. Equally important, ECS provides detailed records to demonstrate the firmís commitment to ongoing surveillance.
From high-altitude views of trading activity to a ground-level breakdown of executions and market data, ECS offers the transparency needed to be proactive, compliant, and competitive.
Key Features of ECS
- Dynamic Charts and Summary Statistics: See your firmís compliance performance at a glance. Create custom report cards to view data from multiple perspectives.
- Configurable Quote Window: Define a +/- millisecond timeframe to assist in identifying flickering quotes and data latency.
- Annotation and Flagging: Flag issues for follow-up and retain comments on full reports or individual records.
- Record Sorting and Filtering: Quickly focus on items that require attention.
- Instant Report Aggregation: View statistics for a range of reports including weekly, monthly, quarterly, or any period of time you specify.
- Network and Firm Quote Data: Compare trading activity to internal snapshots and/or network data. ECS uses the NBBO and/or protected quotes displayed by each market center. Network data is the key source for comparative analysis used by regulators.
- Secure Hosted Solution: Relieve your IT department of the processing and storage burden. Access your reports on the Web. ECS also hosts your public regulatory 606 reports.
- Report Export: Download reports as Excel or CSV for further investigation and offline storage. Every record includes a hyperlink to its complete details online.
For additional information on Jordan & Jordan's Execution Compliance and Surveillance Service, contact Michael O'Conor, 212-655-2953.