Street Systems: Customized Solutions for Broker-Dealer Community

“To err may be human, but errors are unacceptable in the financial services community and other essential bank processes—as it relies on its numbers to make decisions,” expresses Michael Peters, CEO, Street Systems. As per Peters’ analysis, regulators and broker-dealers face tough challenges; securities regulators are coming up with stringent standards and broker-dealers continue to struggle with monitoring compliance practices and compressed profit margins. The existing manual processes involving spreadsheets, emails, and paper documents to track various regulations and manage large data volume are not efficient and consume significant time. Moreover, data from different trading systems and back office clearance systems in different formats are giving rise to risks and data inconsistencies.

This realization laid the foundation of Street Systems, a management consulting company which offers a reliable alternative for broker-dealers—a creative and effective suite of broker-dealer tools for the financial services community. “Street Systems provides an integrated system which encompasses finance, middle office, compliance, and trading tools for the broker-dealer community,” states Peters.

The firm’s best-in-class solution covers all the financial aspects of the firm—from pre-trade through trading, clearance, and settlement. Street Systems’ dedicated team of software engineers understand the requirements of the financial services industry by working with staff, trading system, and clearing broker to recommend a solution that best fits clients. Street Systems is adept at consolidating data from disparate vendor systems into one data warehouse and reporting engine, using a common set of data structure, rules, and formats. With skilled professionals on hand, Street Systems has in depth knowledge about the transaction and position data used by financial services firms, which in turn improves efficiency and data quality.

“Our regulatory compliance software solution was developed in collaboration with the legal experts who specialize in SEC, FINRA, and FCA regulations,” adds Peters. With Street Systems’ secure web based portal, compliance departments automate all their regulatory responsibilities in a consolidated application.