TRF Surveillance & Audit Trail documented end to end.
Monitor restricted behaviors across asset classes, such as Wash Sales, Marking the Close, Reg SHO violations, and Insider Trading, all configured to your needs and documented seamlessly with an automated audit trail, all in one dashboard.
How TRF activity moves through ADEPT™.
Every trade reportable to the FINRA Trade Reporting Facility passes through the same three stages before a restricted-behavior alert reaches your desk: ingest, detect, and document.
- Step 01Ingest
- ADEPT™ pulls TRF-reportable trade activity from your OMS, EMS, and clearing feeds into one governed intake, matched against the reporting obligations tied to each execution.
- Step 02Detect
- Each trade is screened against the restricted-behavior patterns you configure (Wash Sales, Marking the Close, Reg SHO violations, and Insider Trading), flagged the moment a pattern crosses your threshold.
- Step 03Document
- Every alert, disposition, and submission carries its own automated audit trail, so the record a regulator asks for is already assembled, not reconstructed after the fact.
How TRF Surveillance & Audit Trail moves through the ADEPT™ pipeline.
Built for TRF surveillance specifically.
Behavioral Detection
Wash Sales, Marking the Close, Reg SHO violations, and Insider Trading are detected as trading happens, so exceptions surface before a submission goes out, not after an inquiry comes in.
Configurable Monitoring
Each restricted behavior is configured to your firm's own thresholds and asset classes, not a one-size-fits-all ruleset.
Automated Audit & Reporting
Every disposition (cleared, escalated, or reported) is logged automatically as it happens, producing a defensible record without manual write-ups.
One Dashboard Across Asset Classes
Surveillance alerts, TRF submissions, and audit-trail records all surface in a single dashboard, so nothing has to be reconciled across separate tools.
Frequently asked questions
The FINRA Trade Reporting Facility is the venue FINRA member firms use to report over-the-counter equity trades that aren't reported through an exchange, so the trade tape reflects a complete and timely record of market activity.
TRF surveillance needs to catch restricted behaviors across every asset class you trade (Wash Sales, Marking the Close, Reg SHO violations, and Insider Trading among them), with each pattern configured to your firm's own thresholds rather than a fixed, generic ruleset.
A defensible TRF audit trail needs to capture the full path from trade to submission: the original order and execution data, which restricted-behavior rules ran against it, any alert it generated and how it was dispositioned, and the timestamped record of the report itself, all without a manual reconstruction step.
TRACE and ORF surveillance focus on fixed-income and OTC equity trade reporting and lifecycle monitoring, while TRF surveillance centers on FINRA's Trade Reporting Facility submissions themselves, tracking restricted trading behaviors like wash sales and marking the close around the trades being reported, rather than the reporting obligation alone.
Put TRF Surveillance in Front of a Specialist
Request a workflow review scoped to your own restricted-behavior list and asset classes, not a generic product tour.