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FINRA employs advanced technology to monitor the markets and the activities of regulated firms. FINRA's surveillance systems employ sophisticated analytical engines, data mining and pattern recognition to identify problematic trades, detect insider trading and other illicit activity, and identify brokerage firms that pose the greatest risks to market integrity. In addition, FINRA has developed ADF (for Alternative Display Facility), a system that provides a neutral facility for regulated firms to report quotes and trades, and TRACE, our bond trade reporting system that has brought unprecedented transparency to the growing fixed income market.
FINRA Entitlement Program
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The entitlement process facilitates user access to a number of FINRA systems and applications. These include IARD, FINRA Contact System, Report Center, Online Dispute Resolution (DR), Regulation Filing Applications, Web Information Request (Web IR), and Web CRD.
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Central Registration Depository
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FINRA operates Web CRD®, the central licensing and registration system for the U.S. securities industry and its regulators. It contains the registration records of more than 6,800 registered broker-dealers and the qualification, employment, and disclosure histories of more than 660,000 active registered individuals, making it the world's largest and most sophisticated online registration and reporting system.
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TRACE Corporate Bond Facility
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The Trade Reporting and Compliance Engine (TRACE) is the FINRA-developed reporting vehicle for over-the-counter (OTC) secondary market transactions in eligible fixed income securities. TRACE is designed to provide investors with corporate debt transaction prices, and regulators with information critical for ensuring market integrity. The result is an unprecedented increase in bond market transparency.
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