Thesys Expands Platform for Broker-Dealer Reporting


Thesys Technologies, the big data provider and technology subsidiary of Tradeworx, Inc, announced it is expanding its Market Structure Technology platform offering to broker-dealers for regulatory reporting and compliance solutions. Thesys Technologies currently provides regulatory reporting services to its broker-dealer and ATS clients, and will be expanding its capabilities to additional reporting regimes including Order Audit Trail System (OATS), Electronic Blue Sheet (EBS), Large Options Position Reporting (LOPR), and Consolidated Audit Trail (CAT). As part of the SEC’s Rule 613 for the CAT, Self-Regulatory Organizations (SRO) and broker-dealers are required to submit data that allows regulators to efficiently track all U.S. traded equities and equity-related options activity.

Thesys Technologies is focused on helping broker-dealers define a strategy for managing, analyzing, and reporting their order and trade data. The offering leverages the highly scalable data and analytics capabilities of Thesys’ Market Structure Technology platform, the core technology powering the SEC’s MIDAS system.

Mike Beller, CEO, Thesys Technologies said, “Following the Flash Crash of 2010, the regulatory landscape in the U.S. changed drastically. Shortly thereafter, Thesys unveiled its Market Structure Tech to deliver market structure as a platform aimed at providing efficiencies and innovation across the entire trade lifecycle. We have continued to expand our revolutionary offering, defining a new technology category that solves complex regulatory compliance problems from pre-trade risk checks to surveillance to reg reporting,” added Beller.

Anshul Anand, Head of Business Development for Thesys Technologies, commented,  “We’ve closely followed the regulatory compliance space over the past five years, identifying specific challenges faced by broker-dealers from duplicative data systems to siloed technology solutions. Reg Reporting has become a burden for legacy systems struggling to keep up — while some broker-dealers have invested heavily in upgrading their systems, many require technology solutions to help bridge the gap. We see this as a great fit for our platform, bringing together our big data technology and market structure expertise.”

The Reg Reporting business offering will be delivered by Thesys Technologies’ Financial Big Data (FBD) group — one of Thesys Technologies’ primary business units, which currently provides the MIDAS solution to the SEC. Thesys Technologies LLC and Thesys CAT LLC are affiliated but separate entities. Use of Thesys Technologies does not provide users with any nonpublic CAT insights.

About Thesys Technologies, LLC: Thesys Technologies, LLC is a Market Structure Technology provider, focused on delivering high performance trading technologies and big data solutions to financial market participants. Thesys’ technology includes pre- and post-trade surveillance tools, low latency trading platforms, matching engines, and big data analytical tools such as those provided to the U.S. Securities and Exchange Commission as the MIDAS system. Thesys Technologies, LLC is headquartered in New York with offices in Charleston, South Carolina.


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