Take Charge of Compliance with RegRecon
Reg Recon is a real-time, web-based surveillance alert and report tool that assists firms with compliance. Reg Recon has two main components:
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Features and FunctionalityReg NMS Module:
- Real-time warning of potential trade-through trades.
- Time and Sales details showing which protected quotes were traded through.
- Ability to download and print five days of historical data.
- ACT trade detail viewer
- The user/port that entered the trade(s) and how their entries compare to total potential trade-throughs for the firm.
- Potential trade-throughs that were marked as ISO or with the Trade Through Exempt flag.
- Reg Recon conducts continuous replay of the trading day that compares the FINRA/Nasdaq TRF trades against the SIP NBBOs, highlighting any adds/deletes that resulted from data or reporting latencies.
- The replay is displayed in the “Update” column.
- Record of Nasdaq Self Help declarations and revocations.
- Above the offer and below the bid stat
- Odd-Lot filter allows firms to view non odd-lot or odd-lot trades
Clearly Erroneous Module:
- Erroneous trade alerts for potentially erroneous trades on The Nasdaq Stock Market.
- Ability to view and file for multiple MPIDs.
- Electronic clearly erroneous filing directly with Nasdaq MarketWatch.
- Email notifications for both potentially erroneous trades and filing status.
- Anonymous negotiation of erroneous trades with the contra party and the opportunity to accept the final adjustment or proceed with MarketWatch ruling.
- Real-time filing status updates during the entire filing process.
- CE Viewer displaying all trades under review street-wide by MarketWatch in real-time.
- Ability to download and print 90 days of historical data.
For SEC FAQs concerning rules 610 and 611, view the Responses to FAQs Concerning Reg NMS page.