Cross-trading can be treacherous to navigate from a trade compliance perspective. It's no wonder that many firms don't allow it. You have to be very careful in the way that you set up an automated cross-trading rule, because a poorly coded rule can generate hundreds false violations, and cause the SEC to ask why your firm has so many overrides.
In this week's edition of Trade Compliance from the Portfolio Manager’s Perspective, our PM, Jon Gold, shows us what NOT to do when creating cross-trading rules.
In last week's video, we looked at how one word can cause hundreds of daily violations and headaches for the PM. If you missed that video, go back and check out the simple fix that cut the risk of increased SEC scrutiny.
For more information on how your compliance team can update your trade OMS compliance rule library, contact IMP Consulting or visit www.impconsults.com/CLEAR. You can also follow IMP's LinkedIn page to stay up to date with news, events, blog articles, and more!
IMP Consulting is excited to announce that CLEAR™ has made the shortlist of nominees for Best Compliance Solution as part of the 7th Annual FTF News Technology Innovation Awards.
Click on the link below and scroll down to #6 to vote for IMP.