The Karn Group
Equity
Best Execution
Statistics
The Karn Group provides the most accurate and easiest to use SEC NMS 605 services in the industry.
Rule 605 requires National Market System (“NMS”) Market centers” to make available to the public monthly electronic reports that include uniform statistical measures of execution quality.
Best Execution Statistics NMS 605 Features:
- TKG’s NMS 605 Analysis Tool is the most advanced system in the industry.
- Calculates key statistics such as effective spread, quoted spread, effective over quoted and price improvement percentages
- Enhances NMS 605 data with extended statistics.
- Advanced Automation customized by user to speed analysis and maximize usability.
- Online Compliance Workflow, User Roles and Entitlement Management.
- Supervisory Workflow Supporting Multiple Roles and Approval Levels
- Data Mining setting values and ranges across multiple fields
FAQ
How is customer data sent?
Customer data is sent to TKG by end-of-day or intra-day files sent via SFTP, intra-day XML messages via SSH Web Services, intra-day FIX messages via VPN or dedicated telcom connection.
What market data is used by the system?
TKG sources security master information, MSRB and FINRA Transaction Data (Municipal, Corporate and Agency Bonds) and Federal Reserve US Treasury Government prices.
How is customer access managed and workflow documented and archived?
Using a comprehensive entitlement system managed by TKG, customers can control access, review and approval of data and exceptions.Customer workflow is automatically documented and archived by TKG systems.
Can the system be customized?
Users can access and directly manage various system parameters. The TKG support team can implement more complex business rules quickly. TKG can also develop to client specifications should your firm have a need beyond the scope of the existing platform.