The Appsbroker Compliance Engine (ACE) is an intelligent, Front to Back Office solution built on an open architecture that ensures compliance with regulation such as MiFID II/MiFIR whilst simultaneously serving as a multi-asset business intelligence application.
ACE captures all quote and trading data from both voice and electronic businesses to provide – for the first time – a total cross-asset view of the client; and features real-time analytics tools that can interrogate up-to-the-minute data collected for compliance purposes to improve client and business management.
The service is delivered via the infinitely flexible and scalable Google Cloud Platform (GCP) to ensure straightforward integration with existing IT infrastructure and rapid deployment. GCP also gives banks access to as much processing power and storage space as they require, meaning new environments can be spun up on-demand with no requirement for dedicated and underutilised technology infrastructure. And because ACE is provided as a service on GCP, Google’s advanced analytics, machine learning and artificial intelligence tools can be simply switched on as extra services as required.
ACE has been built as a set of pre-built components, which can be brought together as an entire platform or used in different combinations depending on functional or regulatory needs.
ACE is the investment industry’s first true multi-asset platform, providing visibility of all quotes and trades – including FX, Fixed Income, equities, commodities and associated derivatives – in a single view. It captures all details – including voice and electronic quote and trade data – relating both to events that financial institutions are required by law to record and to other business-relevant events such as quotes.
ACE not only aggregates all this data but also has a sophisticated set of analytic tools that can help to improve business operations by, for example, optimising financial instrument pricing. This information can also be combined with reference data sources and additional in-house and external data points to provide deeper client insights.
Rules-based Engine at the heart of a three-layer structure
ACE is a modular enterprise-level product consisting of three main elements.
1. Data Core – holds reference data on products and clients and event data such as Quotes, Trades, Allocations, etc.
2. Rules Engine – a flexible, pre-built repository that individual financial institutions can configure against their own requirements
Rules and policies can be provided for current legislation including MiFID II (see right) and the Dodd-Frank Act (DFA) as well as imminent regulation including SFTR.
Financial institutions also have the option of including and enforcing their own policies (e.g. Client Management).
The Rules Engine future-proofs ACE by enabling rules for future regulatory standards to be loaded onto the platform: financial institutions will simply align their data to those rules to fulfil their regulatory commitments.
3. Sales/Trader User Interface and APIs
The UI enables guided workflow management between sales desks and traders to ensure compliance with front-office focused points of regulation.
A comprehensive API allows firms to integrate their systems with the platform to take advantage of the ACE Rules Engine and Data Core.