Firm58 Launches Updated Compliance Solution for Granular, Customized Trade Monitoring

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Additional SEC rule sets help broker dealers keep up with evolving regulatory climate, while user-friendly features enable easy additions and modifications to stay on top of trade patterns specific to company strategy

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Firm58, a financial management software company simplifying trade operations for capital market firms, has announced the release of a new version of their compliance & surveillance solution, which gives broker dealers and trading firms a customizable and comprehensive tool for trading surveillance.

Along with built-in monitoring for 17 SEC rules, including Marking the Close based on price and/or volume and excessive One Lotting, Firm58’s updated solution allows customers to add, modify and delete their own compliance rules. Customers can tailor rules that specifically target asset classes and trading groups within their trading operations. Firms can set parameters as simple as customized wash sale timing or as complex as flagging instances of short sales off a unique hard-to-borrow list.

“Trade surveillance can be like finding the needle in a haystack of alerts that turn out to be non-issues,” said Jim Mullen, Firm58’s founder and CTO. “As the markets become even more fast-paced, broker-dealers simply can’t afford to waste time manually sifting through thousands of trades to identify and investigate real violations or problematic activity.”

The new version of the software simplifies reporting by grouping related data for a precise and accurate look at trading activity across an organization. Customizable filtering helps to weed out time-consuming false positives or irrelevant behavior, while empowering compliance officers to react dynamically to activity around a specific rule, such as a troublesome asset or trading desk.

The point-and-click dashboard interface sorts and summarizes flagged trades as they arise, so users can quickly sort through and mass-resolve issues instead of combing through disparate reports. A reliable audit trail is maintained that clearly demonstrates the surveillance actions a firm took to address potential regulatory violations.

“Many brokerage firms in the middle market know that spreadsheets won’t cut it in today’s compliance landscape, but they don’t have any affordable options for their business,” says Nick Fera, CEO of Firm58. “We are excited to keep expanding our offerings to provide quality and cost-attractive solutions that enable our clients to directly address their surveillance and compliance pain points.”

The launch comes on the heels of Firm58’s latest white paper, “Shape up or Pay Up: How Broker Dealers Can Keep Pace with Compliance,” which offers best practices for brokerage firms in the middle market to prove they are up to pace with the latest standards in compliance and surveillance.

Firm58’s updated solution is available now. For more information, visit

About Firm58
Firm58 simplifies trade operations for capital markets firms. The company’s web-based financial management software manages the processes associated with fees, commissions and compliance to help increase revenue and operational efficiency, reduce costs, and remain compliant. The Software as a Service (SaaS) platform automates middle- and back-office processes across asset classes to provide insight into daily profitability and protect revenue. Firm58 offers solutions for billing, profitability analysis, commission sharing arrangements/soft dollar management, and compliance. Clients include global market exchanges and execution venues, leading institutional brokerages, clearing and non-clearing broker-dealers, and proprietary trading firms. Founded in 2005, Firm58 is based in Chicago, and is backed by Pritzker Group Venture Capital and North Bridge Venture Partners. For more information, visit

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