1. You minimize human error
As a Compliance Officer, you understand the importance of staying compliant with regulations and policies regarding personal transaction monitoring. However, you’re also aware that manually monitoring trade activities is a daunting task that requires a high level of attention to detail. Even with the best intentions, human error is inevitable.
Applicon Trade Tracker offers a solution to this problem. The system quickly and automatically flags any unusual or suspicious transactions, which helps you identify and prevent potential violations of regulations and policies. By reducing the risk of human errors and omissions, Trade Tracker helps you minimize the risk of fines and other penalties from authorities and regulatory bodies. This not only saves you money but also protects your organization's reputation and credibility in the marketplace.
2. You free up valuable time
When you use Applicon Trade Tracker for personal transaction monitoring, you can easily track and monitor trade activities in real time using pre-defined rules and algorithms. Of course, this helps ensure compliance with regulations and policies, but it also frees up time and resources that would otherwise be spent on manual monitoring.
With more time available to focus on other compliance tasks, you can identify and mitigate risks more effectively, further ensuring that you remain compliant. And as a bonus, as you streamline more and more compliance processes, you create a "ripple effect" throughout your department, leading to increased efficiency and productivity going forward.
3. You enable better traceability and accountability
Managing trading activities using a paper-based system can be compared to navigating a maze blindfolded – it's difficult, inefficient, and can lead to frustration and mistakes. It’s hard to keep track of who is responsible for what and when things have happened, resulting in problems with traceability and accountability.
Fortunately, with Applicon Trade Tracker, you can easily keep track of all trades. Our tool tracks every trade transaction and its history, including who made the transaction and when it was executed. If any of your employees break the rules, you see it directly in the monitoring system – making it easier to manage.
4. You gather all relevant information in one place
Have you ever tried to plan a party with your friends but struggled to keep track of everyone's RSVPs and contributions? It can be a real headache to manage everything manually, with information scattered across different messages and platforms.
But imagine if you had a tool that could gather all the information in one place and organize it for you. That's what Applicon Trade Tracker can do regarding personal transaction monitoring in your organization. The tool collects and organizes all your documentation and information about trade transactions in one place, making it easier for you to keep track of everything and giving you a consistent overview.
5. You eliminate delays in trading transactions
When you manually check if certain instruments can be traded, it usually takes a long time to complete the process. This delay affects your employees’ ability to trade instruments, especially in a market where prices can change in a matter of minutes.
However, with our automated personal transaction monitoring tool, you get instant answers and the ability to act immediately. In other words, Trade Tracker provides a fast and automated process for trading transactions, allowing users to react quickly to market changes. This means that your employees can trade the right instruments at the right time, which will positively impact their trading performance.
6. You simplify generating reports
With a manual process, producing compliance reports can be a time-consuming and challenging task as it requires you to collect information from various sources and consolidate them into a report.
With Applicon Trade Tracker, generating compliance reports becomes more straightforward and efficient. This smart tool enables you to create different types of reports quickly and easily, including e.g., violation reports. This increases transparency and openness, which is especially helpful if your company undergoes a review by regulatory authorities such as the Financial Supervisory Authority (FI).
7. You streamline the prevention of trading forbidden securities
Imagine that you get an email from a colleague one day in the trading department who tells you that they suspect that an employee has purchased a security that is not allowed to be traded. You start digging into the data to investigate the problem, but it takes you hours to find the necessary information. Finally, you discover that the employee has indeed made the transaction, and you have to report it as a compliance violation.
Applicon Trade Tracker lets you put customizable pre-trade compliance checks in place to prevent employees from purchasing forbidden securities. Whenever an employee attempts to make a trade, the tool automatically checks whether the trade complies with the rules and restrictions and alerts you immediately if it’s not. This feature acts as a safeguard against potential compliance violations and saves time by alerting you before a transaction takes place rather than after the fact.
Are you interested in knowing more about Applicon Trade Tracker or even taking it for a spin? Contact our Product Manager, Charlotte Frost, or start your 6-month free trial today to see for yourself how the system can benefit your organization.
