EVP MIXIT, Inc.
New York: 7 November 2011 – MIXIT Inc., a leading provider of broker-neutral, multi-asset trading and compliance solutions to the financial services industry, announced today that it has released a series of key functional enhancements to its Order Audit Trail System (OATS) reporting product to comply with the new requirements established by FINRA. As of October 17th, all NMS stocks are now required to be reported to FINRA.
MIXIT’s new OATS functionality, which launched in September, prior to the October 17th deadline, streamlines and optimizes the reporting processes for all securities including NMS stocks. Financial firms are thus able to manage the increased inflow of messages more effectively.
MIXIT also announced today that it has inked a deal with Lightspeed Financial, Inc. for use of the enhanced OATS Aggregation service. Lightspeed Financial is a leading provider of ultra low latency direct market access trading technology, risk management solutions, and brokerage services for professional market participants.
“MIXIT’s OATS Aggregation service enables us to comply with all FINRA NMS reporting requirements and alleviates our compliance team of the added workload, enabling for a more streamlined and cost-efficient process,” said Scott Ignall, Chief Technology Officer, Lightspeed Financial, Inc.
Walter Fitzgerald, CEO of MIXIT, said, “MIXIT has a dedicated team who specializes in compliance solutions including OATS reporting. Firms who outsource this function to Mixit benefit from the economies of scale and efficiencies this solution provides to their business. We are pleased to work with Lightspeed Trading and other customers to provide this important service.”
Some of the key features of MIXIT’s OATS Aggregator include:
- ends -About MIXIT
In August 2011, MIXIT Inc. was acquired by Patsystems, a leading provider of derivatives trading and risk management technology. For more information on Patsystems, please visit www.patsystems.com