
By Evan Rosser
Subscribe to our original industry insightsDue to the impact direct market access can have on market integrity and broker-dealer capital, the issue of Market Access remains on FINRA’s examination priorities. Rule 15c3-5 (Market Access Rule) requires firms with market access or that provide market access to their customers to “appropriately control the risks associated with market access so as not to jeopardize their own financial condition, that of other market participants, the integrity of trading on the securities markets and the stability of the financial system.” The Market Access Rule applies generally to securities traded on an exchange or alternative trading system, including equities, equity options, exchange-traded funds (ETFs), debt securities, security-based swaps, security futures products, as well as digital assets that meet the SEC’s definition of a security.
What should you be doing?
If your firm has or provides market access, FINRA will want to see that you have reasonably designed risk-management controls and WSPs to manage the financial, regulatory or other risks associated with this business activity.
Oyster’s industry experts have extensive experience in reviewing market access risk controls, no matter the size of your firm or technology platform. Our consultants provide recommendations and industry best practices to identify your firm’s risk and how to address those risks by enhancing existing controls and ensuring that your Market Access controls are tested regularly and correctly.
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