Capital Markets
CM Trade Reconstruction Suite™
Every order, every fill, every hop — provable.
Cryptographic reconstruction of the full trade lifecycle — pre-trade order intent through FIX execution reports to post-trade settlement — for MAR Art 7 market-abuse investigations, MiFID II best-execution analysis, and CFTC Regulation AT audit trails. Microsecond RFC 3161 timestamps; tamper-evident lineage.
The pain
When a market-abuse inquiry lands, the question is not whether your FIX logs exist. It is whether you can reconstruct the complete, gap-free, tamper-evident chain from pre-trade intent through execution to settlement in the time the regulator gives you. Most firms cannot — FIX logs, Bloomberg snapshots, and settlement confirmations live in different systems, and the CFTC timestamp requirement none of the three satisfies independently.
The solution
CM Trade Reconstruction Suite captures every FIX message and Bloomberg quote at the boundary, signs each one at ingestion, chains them into a per-trade immutable lineage with RFC 3161 timestamps at microsecond resolution, and runs the best-execution check automatically. Any trade, end-to-end, in under five minutes.
How it works
4-step flow from intake to audit.
- Step 1
Capture at the boundary
FIX execution reports and Bloomberg BLPAPI quotes are signed at ingestion — before any OMS processing step.
- Step 2
Chain per trade
Every message in a trade's lifecycle is linked into a per-trade hash chain. A gap is cryptographically detectable.
- Step 3
Best-execution check
Fill price is automatically compared to NBBO at order time; the result is signed into the chain.
- Step 4
Reconstruct on demand
Reconstruction API returns any trade's complete signed chain in JSON or FIX drop-copy format.
What’s included
Contract surface and the engineering you don’t have to build.
- Unlimited FIX 4.4 / 5.0sp2 execution-report capture
- Bloomberg BLPAPI market-data snapshot signing
- RFC 3161 timestamps at microsecond resolution
- Automated best-execution obligation check
- Reconstruction API — any trade, any date range
- CFTC Reg AT algorithm-version registry
Legal basis
The regulations this product is built to satisfy. Each obligation maps to a signed contract event you can hand a regulator.
- Market Abuse Regulation (EU) 596/2014 — Article 7
- Entities must maintain complete records of inside information and trading decisions, reconstructable on demand.
- MiFID II Article 26 — Transaction Reporting
- Investment firms must report transactions to regulators within T+1 with complete chain of execution.
- CFTC Regulation Automated Trading (Reg AT)
- Algorithmic traders must maintain a complete source-code audit trail and pre-trade risk controls.
- FINRA Rule 2010 — Standards of Commercial Honor
- Members must maintain records sufficient to detect and demonstrate the absence of market manipulation.
Get access
USD 62,500/month ($750,000/year) for institutional deployment. Annual pre-pay saves two months. Co-location pricing available for sub-millisecond capture.
Need a multi-site federation, a custom export schema, or a regulated-deployment partner? Email yonathan@growing-intelligence.com.
Ready to get started?
Contact us to scope CM Trade Reconstruction Suite™ for your organization.