Latest News
- Disaster and Business Continuity
- Derivatives Operations +
-
Securities Operations
+
- Affirmation, Allocation & Confirmation
- Back Office
- Buy-Side
- Case Studies
- Clearing
- Corporate Actions
- Data Management
- FX Operations
- Hedge Fund Operations
- Industry News
- Mergers & Acquisitions
- Middle-Office
- Operational Risk
- Ops Automation
- Outsourcing
- Private Markets
- Reconciliation & Exceptions
- Risk Management
- Sell-Side
- Settlement
- T+1 Settlement
- Diversity & Human Interest +
- FinTech Trends +
- Opinion +
- Performance Measurement +
- Regulation & Compliance +
- Industry News +
- FTF Media & Content Channels +
- FTF Bull Run Blog
Mark Brennan, head of business development, Americas at ITRS, is applauding the SEC’s vote last week to take on the technology infrastructure of the U.S. securities markets with Regulation Systems Compliance and Integrity (Regulation SCI).
“Tackling systemic risk has been one of the biggest priorities in recent years and the approval of the SEC’s long-anticipated Reg SCI is an important step,” Brennnan says in a statement. “Reg SCI is an implicit recognition of the importance of exchanges and large venues to market stability and represents a major regulatory incentive for rigorous monitoring.”
The monitoring to come will have to encompass “potential infrastructure errors, from a CPU exceeding its upper performance threshold or a FIX gateway outage preventing inbound flow from clients to covering behaviors that could indicate a system glitch or human error,” Brennan says. “The reward for best-practice monitoring for firms goes far beyond regulatory compliance though – it means maximum uptime, reduced reputational risk and protected market-data revenue streams.”
Industry observers say that the SEC’s action acknowledges that most trading now is electronic, highly interconnected and potentially devastating if infrastructure performance problems become widespread.
Need a Reprint?- Read More:
- REG SCI,
- SEC,
- compliance
Leave a Reply