ConvergEx Readies Electronic Blue Sheet Compliance

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The EBS rules are designed to help regulatory agencies gain a clearer picture of market activity.
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EBS, mandated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (Finra), will obligate brokers to include so-called Large Trader IDs, as well as timestamps for every execution report submitted to regulators.

ConvergEx says that LiquidPoint already captures the necessary information through FIX, and supports Large Trader ID entries. As well as electronic trading, customers using floor brokers through BrokerPoint will also be able to record the data.

"Many of our clients have expressed concern regarding their ability to meet these new requirements," says Anthony Saliba, CEO at LiquidPoint. "However, at LiquidPoint, we have always taken a prudent approach towards compliance reporting and have architected our products to be flexible and prepared for new requirements as they arise. As always, we remain committed to proactively offering solutions for industry-wide issues such as this."

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