n-Tier Adds Brokers to its CAT Reporting Client Base

n-Tier, a technology company helping firms minimize the risks and costs of regulatory reporting, has added three new brokerage clients to its Compliance Workbench platform for Consolidated Audit Trail (CAT) reporting and validation.

This is an extension of n-Tier’s 2019 record growth which saw the expanded adoption of its Compliance Workbench platform among new and long-term financial clients. n-Tier helps clients meet a range of regulatory and non-regulatory reporting and validation obligations, including CAT and OATS, through its comprehensive data management solutions.

The Compliance Workbench platform’s flexibility and rich functionality, coupled with the in-depth industry experience of n-Tier’s team, enables firms to automate the detailed comparison of data between OATS, CAT, trading systems and the required reference data sources needed to ensure the ongoing accuracy of their reporting. These comprehensive comparison, correction, and exception management capabilities go far beyond the validations covered in certification and scorecard exception reports providing a wholistic, comprehensive approach to reducing a firm’s regulatory risk and ensuring the accuracy of its regulatory reporting.

n-Tier founder and CEO Peter Gargone commented: “Our clients understand that CAT reporting data accuracy obligations do not end with FINRA certification, and scorecard error rates are not always indicative of proper reporting.” Gargone continued, “We are very pleased with the addition of these new clients and look forward to leveraging our unique platform and experience to provide them with the comprehensive processes needed to ensure the ongoing accuracy and consistency of their CAT and OATS reporting.”

n-Tier’s Compliance Workbench assists clients in successfully meeting their CAT requirements by gathering, combining, and reconciling all equities and options trading and account data across internal data sources and related regulatory report such as OATS. It aggregates reports from other vendors and produces CAT reports where vendor reports are not available and provides comprehensive exception management capabilities.

Executive Vice President at n-Tier, Jeff Bergson commented: “We’re excited to have brought on so many new clients this year and enjoy the close, collaborative relationship we have built with our CAT user group members as they make their final preparations for CAT go-live.” He added: “Over the many years we’ve helped dozens of clients prepare for new regulatory reporting requirements, whether they be LOPR, OATS, EBS, or TRACE-related. It’s satisfying to help firms meet deadlines and provide them with the confidence that they will get everything right.”