Plugins that help brokers stay compliant with regulators
Author: Ivan Egorov
You shouldn’t mess with regulations.
You can love them or hate them, but brokers are required to stay compliant with the local rules, and it often means having to generate enormous reports and performing additional checks that can feel like a burden.
It shouldn’t be a burden, however! And in today’s article, we have compiled a list of TFB solutions created specifically to make a broker’s life easier and help them stay compliant as effortlessly as possible.
Without further ado, here are eight software products that brokers can implement to follow the regulators’ rules:
Execution Report Application
- LP execution time in milliseconds.
- Trading platform execution time in milliseconds (full execution time).
- Slippage in pips (which is the difference between the request and execution prices).
- List of rejected orders.
Additionally, the solution helps brokers analyse and compare the execution from their multiple liquidity providers. As a result, they can provide traders with the fastest possible execution, minimise slippage, and choose the best liquidity provider with the help of the execution report.
Symbol Automated Reports (JFSA)
The Symbol Automated Reports for MT4 provides brokers with six different daily reports with all the required parameters.
The solution helps brokers stay compliant with the Japanese Financial Services Agency with minimal effort. Plus, they can use the reports to monitor server data and promptly troubleshoot any potential issues.
The FFAJ Report plugin for MT4 is a must for brokers who fall under the Financial Futures Association of Japan regulations.
The solution automatically collects and stores the following information:
It collects all data required and generates two types of reports required by the FFAJ regulator.
EMIR Report Application
The EMIR Report Application for MT4 and MT5 is designed for brokers who fall under the European Market Infrastructure Regulation (EMIR). The solution automates the generation of EMIR transaction reports that have to be provided daily.
The solution collects all the necessary information about users, trades, and price ticks from the Trade Processor system and MetaTrader platform to automatically generate the EMIR report daily.
EOD (End-of-Day) Report
The EOD Report application for MT4 and MT5 generates daily reports at a specific time. It contains data on all trading accounts that occurred on the server over the last 24 hours.
The data in the report:
- Deposits and Withdrawals
The solution is compatible with the Trade Processor Liquidity Bridge, allowing brokers to get more trading information, including swaps, total deposits, and A/B-book profits. Brokers can build reports for specific groups or accounts and send them automatically via email.
The six solutions that we just talked about assist brokers with compliance by creating reports that authorities require. Two more TFB solutions help in a different way – by ensuring that the trading process is safe and fair to the traders.
Limited Risk Account plugin (AMF)
The Limited Risk Account Plugin for MT4 and MT5 helps brokers meet the requirements of the French regulator - Autorité des Marchés Financiers (AMF). The software protects traders from excessive losses, automates the Stop Loss calculation, and helps brokers stay compliant.
The solution allows brokers to:
- Restrict opening orders with no Stop Loss level.
- Calculate and set Stop Loss automatically.
After the trade opening, traders can only change the set Stop Loss to reduce the risks. The Limited Risk Account plugin is recommended to brokers working with traders from France but can be used by anyone.
Terminal Cost Overview (BaFin)
The Terminal Cost Overview for MT4 is a separate panel for the Traders Terminal designed for the German regulator BaFin but can be helpful for any brokerage.
It shows all costs for the trader, such as spread, commissions, and swaps, before placing an order. It ensures that the broker notifies traders of all costs they will incur and adds transparency to the trading process.
Apart from helping brokers follow regulator requirements, brokers get a bonus of trader loyalty, as they trust brokers not to rip them off.
That’s it for today! We hope you’ve found this list of eight solutions for regulators helpful. If you’d like to learn more about the TFB solutions, please email us at firstname.lastname@example.org, and stay tuned for more valuable articles on our blog.
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