With the passing of legislation such as the Dodd-Frank Act, more stringent recording requirements for trade-related communication have been enacted. Compliance necessitates that all communication, regardless of whether it occurs on the trading floor or in the back office, be recorded, stored, and quickly retrievable. Unfortunately, many legacy recording systems do not have the functionality to allow for complete compliance. Newer solutions, such as trading floor and back office recording solutions, are built with compliance regulations in mind. They are flexible and scalable, making them suitable for any size organization. These recording solutions are developed with the understanding that Financial Institutions require reliability and security.
Trading floor and back office recording solutions offer you the ability to:
- Record both front and back office communications with a single integrated system
- Securely and reliably record, store, and retrieve all trade-related conversations
- Protect recorded material with extensive, multi-level security features
- Record voice communications - including mobile - as well as chat, emails, and social media communications pertaining to trading activities
- Integrate with all major trading floor and back office communication systems
- Encrypt recorded media to protect sensitive and personal information
Our Subject Matter Experts (SMEs) have extensive industry knowledge and a full understanding of the current compliance requirements. At Wilmac, we are consultative experts with specialized knowledge of compliance recording systems and the essentials and nuances of today’s compliance regulations. Specifically, we offer a Compliance Assessment that can investigate and report on the state of your organization. Regardless of your current equipment and compliance status, our sales and services teams will assist you in developing an intuitive and secure solution suited to ensure your needs are met.
Tags: Compliance, Dodd-Frank Act, Financial Compliance