The Karn Group
SEC Rule 605 & 606
Unified Regulatory
Reporting
Unified SEC Rule 605 & 606 Reporting Platform
TKG provides integrated SEC Rule 605 and Rule 606 reporting in a single platform. For firms requiring both execution quality statistics (605) and order routing disclosures (606), our unified solution streamlines compliance across all SEC reporting requirements. For dedicated NMS Rule 605 compliance, see our specialized 605 solution.
Rule 606 requires firms routing equity and option customer orders to publish quarterly reports identifying execution venues, plus on-demand disclosures for individual customer orders. Combined with Rule 605 execution quality reporting, our platform provides granular analytical details to audit and comply with all regulatory requirements.
Rule 605 & 606 Reporting Features:
- Daily NMS 605 data processing for real-time compliance monitoring
- Complete audit trails for all Amended Rule 605 reports
- Custom NMS 605 analysis reports with flexible filtering options
- Calculates expanded selection of proprietary statistics.
- Generates private 605 and 606(b)3 data by order routing, order executions and liquidity.
- Exports all 605 and 606 reports in SEC-mandated CSV and PDF formats, plus Excel for analysis.
FAQ
How are customers supported?
A subject matter expert is assigned as your primary support. In addition, you will have access to alternative support staff to ensure you can always get immediate support when needed. You will be provided with the email addresses and telephone numbers of all support personnel.
How is implementation managed?
A subject matter expert will lead your implementation. Experts in business requirements, data analysis and security will be involved at the appropriate stage to ensure a smooth and satisfactory experience.
How does TKG maintain data security?
Your data is secured both at rest and in transit. Data at rest is encrypted using either PGP, GPG or PKA. Data is transmitted to TKG using SFTP, SSH Web Services, VPN and dedicated telecommunications connections. TKG accepts fixed and delimited files, XML messages and FIX messages.
Does TKG support Single Sign On (SSO)?
TKG supports SSO with Security Assertion Markup Language (SAML) protocol. We can also implement custom SSO solutions to client specifications.
How is access managed and workflow documented?
TKG’s comprehensive entitlement system allows customers to control access to review and approve data and exceptions. In addition, all actions and entries are logged and automatically archived.
Can the system be customized?
Users can customize system parameters through the user interface. TKG can implement additional rules and features during system setup or later on an ad hoc basis.
What market data is collected by TKG?
TKG sources NBBOs, quotes, trades, and admin messages from NMS, Options, OTC and Canadian markets.
What customer data file formats does TKG accept?
TKG recommends customers format data according to our file specification. Alternatively, TKG accepts a broad range of file formats from third parties, order management systems, clearing firms and customer internal systems.