Business Need

NASD has established the Order Audit Trail System^SM (OATS ^SM), as an integrated audit trail of order, quote, and trade information for Nasdaq securities. NASD will use this audit trail system to recreate events in the life cycle of orders and monitor more thoroughly the trading practices of member firms.

Under NASD Rules 6950 - 6957, NASD member firms are required to develop a means for electronically capturing and reporting to OATS specific data elements related to the handling or execution of orders, including recording of all times of these events in hours, minutes, and seconds.

This results into a need to enhance the firm's trading system in capturing these events runtime, preparing appropriately formatted OATS submission files, verification of the data in these files and transmission to NASD OATS. The events thus reported may get rejected by OATS for a variety of reasons. The trading firm has to analyze these rejects, take appropriate actions to correct them and resubmit the corrected events again.

Avebury Logic Can Help

Avebury Logic helped a major Market Maker in upgrading its trading system to capture, prepare and submit daily OATS reportable events to NASD. The modifications to the online system, and development of FORE File Generator programs were undertaken and successfully completed. Avebury Logic also developed a tool, OATS Helper, which helps the client capture the OATS rejections, analyze them and prepare correction files for resubmissions.

We can do the same for you!

Features

• C/C++/SQR based easily portable programs (FORE File Generator and OATS Verifier)
• Windows based OATS Helper
• Database Connectivity