The Karn Group

Equity
SEC Regulatory
Reporting

Regulatory Reporting Made Easy

TKG provides the most accurate and easiest to use NMS 606 a & b reporting services in the industry.

Broker-dealers of equity and option securities that route customer orders are required by Rule 606 to make publicly available quarterly reports that identify the venues to which customer orders are routed for execution. In addition, when requested they are required to disclose to customers the venues to which their individual orders were routed. TKG tools provide granular analytical details to audit and comply with regulatory reporting requirements.

NMS 606 a & b Features:

NMS 606 a & b Features:

  • Processes 606(a) & (b) data daily to enable timely review.
  • Provides audit trails for 606 (a) & (b) reports.
  • Generates custom 606(a) & (b) order routing reports for user-selected periods, route destinations, security and order types.
  • Calculates expanded selection of proprietary statistics.
  • Generates private 606(b)3 data by order routing, order executions and liquidity.
  • Exports all 606 report types in the SEC mandated XLS or PDF formats.

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.