Business Intelligence tools for brokers

Author: Baiana Kashaeva

Business intelligence tools are a broker’s primary helpers in staying proactive with their risk management and business planning strategies. Those who use data monitoring, reporting, and analytic solutions tend to be better prepared for the unexpected, react to changes quicker and smarter, and experience less stress overall.

At TFB, we have many solutions that target different broker needs. So today, we prepared a list of 6 tools that would help any broker have more structured and less hectic business operations.

1. Trading alerts

Alerts are a part of the BBI solution that we cannot stop recommending. Typically, BI solutions are focused on big data analysis and processing to find patterns and make better decisions in the future. BBI allows brokers to better understand their clients and then set up smart, real-time alerts to react quickly.

Trading alerts in BBI take little time to customise, and are fully flexible to fit various business needs and strategies. Brokers can configure them as they like and rest easy knowing that the alerts will notify them should something happen.

2. Regulatory reporting for CySec and MiFid

If your brokerage falls under specific regulations or if you are planning to get licensed soon, you need to think about regulatory reports. Many brokers dread external reports because they are complex, large, and often expensive to generate. However, it does not have to be like that. If you go ahead with the TFB Business Intelligence Solution, you get built-in reports for CySec and MiFid that will automatically gather all of the required data and put it in the format that the regulator needs.

3. Solutions for other regulatory reports

If you have to report to EMIR (European Market Infrastructure Regulation) or FFAJ (Financial Futures Association of Japan), you can use the solutions by TFB that are designed just for that.

EMIR Report application will automatically generate daily transaction reports . The report consists of 3 parts with lists of information about trades, users, and prices.

FFAJ Reports' solution includes a plugin to collect the data from the server and an application to generate two types of reports to comply with the Financial Futures Association of Japan (FFAJ).

4. Business reports for internal use

Having reports for regulators is crucial for brokers. However, it is equally important to have a tool for data collection and analysis that shows your up-to-date operational, trading, and financial statistics. Business reports help brokers stay on track with their annual and quarterly goals by enabling quick access to all information and KPIs.

TFB clients also use reporting for internal processl analysis, to review their current strengths and weaknesses, to analyse where they need to focus their marketing efforts, and more.

5. Economic calendar

The economic calendar shows all global events in one place with an option to view additional details on each separate event. It is a part of the Business Intelligence (BBI) solution. It serves as an excellent tool for analytics on the go when you see any abnormality in your daily trading and need to check if any external events have triggered the new trading patterns.

6. T4B Monitoring System

While brokers need to stay on track with their traders, it is also essential to be aware of the technical side of the business. The T4B Monitoring System monitors the servers’ capacity to ensure they remain available. It also notifies brokers via console app, email, or Telegram messenger on certain predefined events.