Financial Message Compliance Archiving

Having financial messaging data collected and archived is essential for companies requiring comprehensive search and compliance review utilities for compliance purposes. We help organizations effectively meet SEC, CFTC, FINRA regulations as well as providing assistance in mitigating risk involving internal investigations, lawsuits and audits. Globanet Merge1 provides robust support for a wide variety of financial messaging platforms including Bloomberg, Thomson Reuters, UBS connector and Merrill chat. In an increasingly regulated financial environment having the right tool to expertly capture business critical financial messaging is a must.

Globanet Merge1 is a fantastic software product that is widely used throughout the financial services sector. It allows firms to comply with rules governed by the SEC, CFTC, FINRA and other regulatory bodies. Its ability to easily retrieve content from financial communication platforms, such as Bloomberg, Thomson Reuters Eikon, Merrill Chat, UBS, Liquidnet, MarketLook and many others, makes corporate compliance and data discoverability much easier and comprehensible. With a direct connection to the data source, the content is retrieved on an automated schedule with built-in notifications for completed tasks, number of items processed and possible errors. Notification reports can also be set up through email.

SEC Rule 17a-4, CFTC 1.31 and Dodd-Frank regulations mandate financial services companies, such as broker-dealers, to preserve electronic storage media in a non-rewritable and non-erasable format. These regulatory agencies that oversee the transactions of securities and investments hold financial institutions responsible for the management of their electronic communications. These responsibilities include the ability to retrieve messaging on various platforms, such as Bloomberg, Thomson Reuters and Blackberry, for reasons of transparency and investigation/discovery when necessary. The inability of to produce and retrieve messaging within the financial services industry can result in large sanctions and fines by regulatory agencies.

One example of a case that waived unfavorably for a large firm can be seen here. The firm was heavily fined for the mismanagement of their Bloomberg data, specifically instant messages and emails, because their operating message retrieval system was not entirely effective. Thus, the company was unable to provide the data that was being asked for by FINRA. Globanet Merge1 maintains the filtering and capturing technology that can avoid large penalties for firms that are using financial messaging and communication applications.