The Karn Group
NMS Rule 605
Analysis &
Compliance
Industry-Leading NMS 605 Analysis Platform
The Karn Group provides the most accurate and comprehensive NMS 605 analysis and Amended Rule 605 compliance solutions in the industry. Our platform is specifically designed to help broker-dealers meet the expanded requirements of the amended 605 regulation.
With the Amended NMS Rule 605 significantly expanding reporting requirements, firms need a robust solution for execution quality statistics reporting. Our NMS 605 analysis tool ensures complete compliance with all amended 605 requirements, including fractional shares, odd-lots, and extended hours trading metrics. We process billions of transactions monthly with guaranteed accuracy.
NMS 605 Analysis Features:
- Daily NMS 605 data processing for real-time compliance monitoring
- Complete audit trails for all Amended Rule 605 reports
- Custom 605 analysis reports with flexible filtering options
- Automated detection of reporting anomalies and exceptions
- Support for fractional shares and odd-lot reporting
- Extended hours trading statistics and metrics
- Export all 605 reports in SEC-mandated CSV and PDF formats, plus Excel for analysis
- Direct connectivity with major market centers and OMS platforms
FAQ
What is NMS Rule 605?
NMS Rule 605 (formerly Rule 11Ac1-5) requires market centers to make available to the public monthly electronic reports containing standardized execution quality statistics. These reports help investors evaluate how well their orders are being executed.
What are the key changes in Amended Rule 605?
The Amended Rule 605 significantly expands coverage beyond market makers to include large broker-dealers, adds fractional share and odd-lot reporting, includes extended hours trading metrics, and requires more comprehensive order type categorization.
Who must comply with Amended NMS Rule 605?
The amended regulation applies to market makers, specialists, and now large broker-dealers handling significant retail order flow. Any firm executing covered orders must comply with the expanded reporting requirements.
How does TKG's NMS 605 analysis platform ensure accuracy?
Our platform uses proprietary validation algorithms, automated anomaly detection, and daily data processing to ensure 100% accuracy. We maintain complete audit trails and provide real-time monitoring of execution quality statistics.
What formats are NMS 605 reports available in?
Reports are delivered in SEC-mandated formats (CSV and PDF) for regulatory compliance, plus Excel format for enhanced data analysis and internal reporting needs.
How quickly can we implement the NMS 605 solution?
Implementation typically takes 2-4 weeks, including data integration, custom configuration, and comprehensive training. Our experts manage the entire process to ensure a smooth transition.
Does the platform support fractional shares and odd-lots?
Yes, our platform fully supports the Amended Rule 605 requirements for fractional share and odd-lot reporting, along with extended hours trading statistics.
What ongoing support is provided?
We provide dedicated regulatory specialists, 24/7 technical support, ongoing regulatory updates as requirements evolve, and comprehensive training for your team.