OneChicago offers OATS OSO services 09 June 2011Chicago Reporter: Justin Lawson
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OneChicago, LLC is now offering Order Audit Trail System (OATS) Order Sending Organization (OSO) services to its customers. The new service supports firms executing point-and-click traded EFPs (Exchange for Physical) on the exchange.
The OSO services will facilitate firms meeting their Financial Industry Regulatory Authority (FINRA) OATS regulatory reporting obligations. In addition, the new service is designed to help firms trading EFPs eliminate inefficiencies caused by manual processes and reduce operational risk.
"Our clients are always looking for efficient ways to comply with regulatory mandates," commented David Downey, CEO of OneChicago. "Firms can rely on our OSO to meet their FINRA obligations, improving access to OneChicago point-and-click traded EFP marketplace for customers and proprietary traders."
The OneChicago OCX.NoDivRisk™ EFP trade is an exchange traded, central counter party cleared, economic equivalent to OTC equity swaps, equity repos and securities lending transactions.
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