Monaco

Compliance

Monaco Compliance is a rules based engine that incorporates pre and post trade compliance into a decision tool. The Compliance rules can be customized to both external and in house rules to comply with complex, multi-region, multi-jurisdiction regulatory requirements. The tools include full audit trail and integrated trading and workflow functionality as needed by the client. Monaco automates the compliance process and includes all regulatory updates applicable to each client and counter party. Our Compliance offering uses industry standard protocols and is used by multinational firms.

Monaco Compliance Components

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Monaco Compliance Components:

  • ✓ Jurisdiction Rules
  • ✓ CCP Eligibility by Product
  • ✓ SEF Eligibility by Product
  • ✓ EBC Rules and Interactive Workflow
  • ✓ Counterparty Engine
  • ✓ Web Based GUI
  • ✓ Full API Access
  • ✓ Data and Rule Update Subscription Included

Optional Moduals/Features:

  • Credit Limit Integration
  • Enterprise Monitoring Service (Credit & Rates)
  • Additional Configuration Options for other User Groups

  • Designed from the ground up with an extensible trade, account, and product model
  • Extends to pre-trade compliance rules and post-trade violation monitoring by leveraging the rich models and workflow engine
  • Supports all asset classes under the Regulatory Mandate (Interest Rates, Credit, FX, Commodities, and Equities)
  • Provides decision making and audit support to both voice and electronic executions

  • Simple go/no-go decision system driven by Regulatory Mandate, CCP coverage, SEF Coverage; Counterparty attributes and Special in-house rules (Tradability)
  • Easy to retrieve audit-trail of all decisions, including snapshots of all inputs that went into the decision making (Traceability)
  • Seamlessly integrated in the Trading, Operations, and Compliance infrastructure (Tractability)
  • Support for all derivative reform jurisdictions including Dodd-Frank and EMIR

View Monaco Compliance in Action

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Tradability: Decision Tools (Web based GUI)

  • Answers the most asked “Where can I trade?” and “Where can I clear?” questions for all products in the Regulatory Mandate
  • Provides Clearing and Business Conduct Requirements in a lucid manner Navigates through CCP and SEF limitations (support for amortizers, odd lot, max fees on trade, etc)
  • Indicates Go/No-go factoring in external and internal rules (like Credit Lmt)
  • Customizable rule-based configuration.
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Tradability: Decision Tools (Trade Ticket)

  • Displays the ticket in a “pre-trade” format and provides an instant go/no-go decision for Credit & Rates products
  • Integrates with in-house trade management/risk systems for a cohesive look and feel
  • Can generate an complete trade object for STP to Rates/Credit Systems
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Tradability: Regulatory & Reference Data

  • Screens to view and annotate Jurisdiction rules
  • Screens to display CCP eligibility & exceptions
  • Blotters and Screens to view Legal Entity and account hierarchies, classifications, domicile and other attributes
  • Proprietary data model that can adapt to additional rule complexities
  • Easy to expand CCP, SEF, EBC coverage
  • Uniquely connects Legal Entity, Counterparty, and Regulatory data to give an accurate and repeatable response
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Traceability: Approval Codes & Audit Trail

  • All compliance checks return a unique go/no-go decision
  • Detailed audit trail to capture all inputs and outputs of the decision engine
  • All time-stamps of requests preserved as per data retention requirements
  • EBC guidance provided and inputs captured
  • Supports audit and tracking across electronic and voice executions
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Traceability: Violations Monitoring

API DETAILS:

  • Follows same rules engine as Monaco pre-trade Compliance tool
  • Batch processes can be run throughout the day, end of day, and on demand
  • Historical trades can be back tested for Compliance look-back
  • Ability to remedy violations on a real-time basis
  • Provides history of each non-compliant trade and steps taken to remedy the violation
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Tractability: Integration Options

API DETAILS:

  • Follows same rules engine as Monaco pre-trade Compliance tool
  • Batch processes can be run throughout the day, end of day, and on demand
  • Historical trades can be back tested for Compliance look-back
  • Ability to remedy violations on a real-time basis
  • Provides history of each non-compliant trade and steps taken to remedy the violation

Tradability

  • Provides a go/no-go decision system by navigating a comprehensive rule structure covering external and internal rules

  • Dynamically guides user through Trade Execution and Clearing options

  • Provides pre-trade external business conduct requirements to ensure regulatory compliance

  • Updates all available Regulatory body (CFTC, EMIR, OSFI, JFSA) rule information for review/annotations

  • Updates all available CCP & SEF product scope, eligibility, effective date, and limitations for review and annotations

Traceability

  • Generates a unique approval code for all decisions; code available to downstream operations, compliance & risk systems

  • Provides tracking and archival facilities as required by External Business Conduct Rules

  • Provides a point in time “snapshot” of all information at time of decision making. For example – the counterparty, trade, and venue attributes, the decision model used, etc.

  • Actively monitors and reports Execution violations, Clearing violations, and EBC violations

Tractability

  • Integrates with in-house systems with multiple options

  • Provides access to approval codes, Jurisdiction rules, CCP coverage, and SEF scope to in house systems

  • Has an fpml & proto-buffer interface with in house systems; successfully implemented for CDS business

  • Option to create a “ready to book” trade from the Compliance screen for a seamless ticketing experience

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