Etrali Expands Mobile Recording Offering for Dodd-Frank Compliance
Etrali, with mobile technology partner Natterbox, will be recording any conversation by traders on cell phone devices, including "pre-execution information". As stipulated under Dodd-Frank, recordings are to be kept in a searchable format by counterparty and transaction for a minimum priod of a year.
"Our recording solution has been successfully implemented with tier-one UK banks since 2011," says Robert Powell, global head of compliance at Etrali Trading Solutions. "We were one of the first to offer mobile recording in the UK and this has enabled us to tailor the solution to the very specific needs of financial institutions and demands of regulators in accordance with FCA requirements. By building on this experience in developing the solution for the US market, we've ensured that the solution can be implemented quickly, meaning that clients are instantly able to record under Dodd-Frank," says Powell.
Etrali is planning to roll out the service across Asia this year in response to these global regulatory requirements.
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