finra

FINRA

 

For Release:
Contact:
Wednesday, June 12, 1996
Nancy A. Condon - (202) 728-8379
James M. Cangiano - (301) 590-6424
John Pinto - (202) 728-8233

 

NASD Regulation Honored with Technology Awards

Washington, D.C.--The Smithsonian Institution, Microsoft Corporation, and the International Society for Performance Improvement (ISPI) have honored NASD Regulation, Inc. with three awards, all of which recognize the self-regulatory organization's expanding use of technology for enforcement and surveillance, resulting in increased investor protection.

 

NASD Regulation's new Research and Data Analysis Repository (RADAR) system was honored by the Smithsonian in conjunction with Computerworld as part of the annual Computerworld Smithsonian Awards Program. NASD Regulation received the award for developing "data warehouse technology that reduces the time required to gather information about a potential insider trading violation from weeks to minutes, helping to ensure a level playing field for all investors."

 

The RADAR system, a $4.5 million project that went on-line in December 1995, provides immediate access to market data and other related information, dramatically increasing the speed and flexibility with which large quantities of data are analyzed. RADAR assists market surveillance analysts by rapidly pinpointing the identity of the securities firms responsible for the trading, the precise time at which the trades took place, how much was bought or sold, and for whose account.

 

"The development and implementation of this advanced system could not have been more timely given the explosive growth of The Nasdaq Stock Market," said NASD Regulation, Inc. Senior Vice President for Market Regulation, James M. Cangiano. "With RADAR, we're able to analyze suspicious trading much more quickly than in the past."

 

All of NASD Regulation's materials submitted to the Smithsonian have been made part of the Institution's Permanent Research Collection, and are available at http://innovate.si.edu. NASD Regulation's award was part of the 1996 Innovation Collection In The Workplace series for Finance, Insurance, and Real Estate.

 

NASD Regulation was also honored for its CornerStone Examiner Training Program and Performance Support System, a combination of print- and computer-based training, along with classroom and on-the-job education. This program is augmented by mentoring and automated tools, including the Automated Examination Modules (AEM) and procedures.

 

AEM allows NASD Regulation's national compliance and examination staff to conduct on-site examination of members using a laptop computer applying software that contains all NASD Regulation examination policies and procedures along with on-line product information. This helps the examiner to manage every step of the process, from focusing the exam to writing the final report.

 

CornerStone was recognized as the Outstanding Human Performance Support System for 1996 by the ISPI, a leading international association dedicated to improved productivity and performance in the workplace.

 

Microsoft awarded AEM first prize for Outstanding Custom Application at the recent Windows World Open Conference in Chicago. NASD Regulation developed CornerStone in conjunction with a Denver-based consulting company, DLS Group Inc., which also shared in the awards.

 

CornerStone debuted in mid-1995, as the number of NASD Regulation examiners was also on the rise. Today, NASD Regulation is responsible for ensuring the on-going compliance at 5,486 broker/dealer firms.