Firm58 Announces New Compliance & Surveillance Solution For Broker Dealers

Enables a risk-based approach to meet current regulatory surveillance expectations

CHICAGO — June 18, 2013 — Firm58, Inc, an independent financial management software company, introduced today its new Compliance & Surveillance solution for Equity and Option Broker Dealers. This new solution assists Compliance Officers and Senior Management adhere to regulatory guidelines by identifying suspicious trading behavior and patterns via an online dashboard. Firm58 is introducing this new offering free of charge for the first 30 days with the purchase of an annual subscription. The product is available for immediate use.

Firm58’s Compliance & Surveillance program is built on a foundation of aggregated order and execution data, and utilizes the same scalable and secure technology infrastructure as Firm58’s solutions for Billing, Profit Analysis and CSA/Soft Dollar management. Now Broker Dealers of any size can comply with regulatory guidance from the SEC and FINRA.

Monitoring trading activity is essential for spotting ‘red-flags’ and anomalous behavior. Large Orders, Order Spoofing, Order Exceptions on Close, Low Volume Thresholds, Odd Lots, Short and Wash Sales and “Marking the Close” are examples of problematic activity monitored by the Software-as-a-Service (SaaS) product.

“We’re excited to introduce this new Compliance & Surveillance solution to the Broker Dealer community,” said Sam Mele, Firm58’s Co-Founder and Managing Director. “With the heightened focus and expanding requirements around adequate trade supervision, the need is critical and clear for Broker Dealers to better inspect their trading activities. We believe this hosted Compliance & Surveillance solution will help Broker Dealers avoid severe financial penalties resulting from a ‘failure to supervise’ their activity.”

In recent years, increased daily trade processing and compliance issues have forced Broker Dealer middle- and back-offices to take on larger workloads. Firm58 is positioned to help the Broker Dealer market overcome these post-trade challenges through its rapidly deployed, cloud-based offering.


“Firm58 Compliance & Surveillance is a fast and cost effective way for Broker Dealers to meet the industry’s evolving regulatory requirements. This solution will become an instrumental component to establishing, maintaining and enforcing sound compliance and surveillance procedures,” said Mele.


About Firm58, Inc.

Firm58 simplifies trade operations for capital markets firms. The company’s web-based financial management software manages the processes associated with fees, commissions and payouts to help increase revenue and operational efficiency, and reduce costs. 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, compensation, and accounting. 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 New World Ventures and North Bridge Venture Partners. For more information, visit


Sam Mele,
Firm58, Inc.
888-434-7658 x200

Matilda Swartz,
Walker Sands Communications