How you can make compliance with regulations fun and easy with BBI
Author: Albina Zhdanova
Authorities are notorious for always coming up with new rules, laws, and reporting requirements. In today’s highly unpredictable environment, it is especially critical to keep up with all formalities.
Remaining compliant takes up a lot of time and resources, so it helps having a partner who can take some of the work off your shoulders. At TFB, we are constantly on the lookout for new updates to reporting. One of our flagship products — Brokerage Business Intelligence (BBI) — is designed to make data gathering and analyzis easier for both internal and external use.
Throughout conversations with our partners, we see that reporting, probably, will forever be one of the top pains for them. To hopefully make the lives of brokerages a little bit easier, we have created this article to showcase how you can use BBI for regulation and save yourselves money, time, and avoid the stress.
One. BBI gathers data from multiple servers and puts it together nicely, aligning all bits that regulators are interested in. If you have different platforms in your environment, e.g., MetaTrader4 and MettaTrader5, exporting data from all of them and ending up with a neat single view is usually challenging. With BBI, there is no need to suffer and waste time, as the software does everything for you automatically, and you only see the final product — a single report with all data you need.
Two. Easy and intuitive interface means that you don’t need to be a compliance officer to run a report. Having a complex and hard-to-understand UI was maybe acceptable 15 years ago, but not in 2020. With BBI, there is no hardcore training required, so anyone on the team can learn to use it and run all reports they need when they need it.
Three. Full integration with our bridge solution — Trade Processor — means no extra stress and hours saved for more pressing matters than figuring out how to make reporting and bridging solutions work together. Both products are designed in a single style to help brokers work more efficiently via a familiar interface. Additionally, BBI has open APIs, so integrating with any other system won’t be an issue.
Four. You can forget about countless bills coming from multiple consultancy firms that design the reports for you. BBI enables you to extract all data needed for CySec and Mifid. For specific requests that are not included in the standard reports, we have a whole ‘Custom Reports’ part of the software when your team can set up any parameters and run various reports that they might need.
Just like a picture is worth a thousand words, a couple of days of testing the product will show you all its capabilities. For a trial license, or if you have any questions about BBI, regulators, or anything else broker-related, please email us at firstname.lastname@example.org to chat with our team.
OF ANY PRODUCT