Sterling Trading Tech (STT), a leading provider of order management systems, risk and margin solutions and trading platforms to the capital markets worldwide, announced the launch of a calculation service for FINRA member firms in response to the recently announced enhancements to the regulator’s portfolio margining requirements. These new requirements were set to go into effect April 1 of this year, which FINRA recently updated to be later in 2023.
Browse The Complete Interview About Fintech : Global Fintech Interview with Richard Smith, Chairman at FSC and Co-Founder at Finiac
“As regulations continue to evolve, broker-dealers and other market participants constantly face challenges in being able to comply, and FINRA’s new requirements are no exception”
Responding to client and industry demand, STT has developed and launched a service to calculate and produce the data elements required for this additional reporting, including concentration position requirements and global margin supplement details, for firms approved by FINRA for portfolio margin.
Read More About Fintech Interview: Global Fintech Interview with Casper Rasmussen, President at MACH Alliance
Existing Sterling clients can directly subscribe to this service offering, and any firm, regardless of whether they currently use STT’s Risk & Margin System, can use the service by uploading their portfolios. The portfolio margin reporting enhancements announced by FINRA are meant to provide more insight into the options and concentrated position exposure of member firms’ client accounts.
“As regulations continue to evolve, broker-dealers and other market participants constantly face challenges in being able to comply, and FINRA’s new requirements are no exception,” said Ravi Jain, Chief Product Officer of Sterling Trading Tech. “Sterling’s robust system is already capable of producing all data points and reporting requested from FINRA, and our new calculation service makes compliance easy. We’re particularly proud of what this offering means for the industry at large, as we make this available to all FINRA-approved firms whose current providers may be unable to produce these calculations.”
Latest Fintech Interview: Global Fintech Interview with Jyotirmoy Chakravorty, Founder at Ubona Technologies
[To share your insights with us, please write to sghosh@martechseries.com]
