Shifting Financial Marketing into Gear
Quick1FR Helps FCMs Meet CFTC 1FR July 12, 2014 Public Financial Reporting Deadline
Gate 39 Media, a financial web marketing and technology firm announces the launch of Quick1FR, a solution to help Futures Commission Merchants (FCMs) meet the next phase of CFTC rule 1FR reporting requirements, CFTC Rule 1.55(o)(1), which take effect July 12, 2014. On this date, FCMs will be required to report segregated funds, secured funds, and swaps held daily on their website along with financial information about the firm on a monthly basis for the previous 12 months.
Quick1FR makes complying with CFTC rule 1FR simple by using the same data filed with the CFTC through WinJammer, to display and archive on the FCM’s website as required. Quick1FR records the person, date/time, IP address, and the data updated and makes this record available to generate reports that demonstrate compliance with the rule. It also sends alerts if the website has not been updated by a certain time to ensure 1FR compliance.
The data is presented on the website in attractive charts and tables and can be customized to fit the look-and-feel of the FCM’s website. As a fully responsive application, the data display is compatible with mobile websites, resizing automatically to fit any phone or tablet.
Quick1FR also manages annual reports, disclosure documents, and any other documents (both required and optional) to be made available to the public. A notes field provides space for the required CFTC and NFA links along with additional notes the FCM wishes to provide for greater disclosure. Each version of a document or comment is archived and logged for auditing purposes.
Aside from 1FR compliance, Quick1FR is a business tool used to develop and create financial reports for management. Using the data from the 1FR submission, the system provides reports that visually show the growth of segregated funds, secured funds, and swaps, including the amount above required margin.
“We created Quick1FR as a solution for our FCMs clients, not only to satisfy the reporting requirements of CFTC rule 1FR in the simplest and most accurate way possible, but also to document compliance with the rule which many firms overlook,” says Shane Stiles, president of Gate 39 Media. “More than just a way to satisfy 1FR requirements, we wanted to provide additional insight to help FCM management track the growth of the business and as an additional tool for monitoring margin requirements.”
Quick1FR can be installed to a web server or on is available on a managed hosting basis. When fully-managed by Gate 39 Media, Quick1FR can be integrated into an existing portal for management and security or run as a stand-alone application. By selecting Quick1FR managed hosting, FCMs have a turn-key solution for 1FR compliance.
In developing Quick1FR, Gate 39 Media worked with existing FCM clients and received additional guidance from Marc Nagel, former FCM chief compliance officer, now an independent compliance consultant for the futures industry. CFTC documentation was fully reviewed to ensure requirements are met.
Additional FCM technology solutions from Gate 39 Media include: an account opening application and operations system for complete online application management; a trading platform demo portal for managing all demo requests with platform providers and lead-tracking for multiple brokers; and Clarity Portfolio Viewer which provides aggregated performance for managed futures in a single portfolio with advanced statistics and reporting.
ABOUT GATE 39 MEDIA
Gate 39 Media’s marketing and technology solutions generate thousands of leads, account applications, demo requests, and general inquiries each week for its clients in the financial services industry. From brokerage firms and fund managers, to clearing firms and financial industry service providers Gate 39 Media provides a full range of custom developed and hosted solutions. Learn more about Gate 39 Media at www.gate39media.com or contact Shane Stiles at 312.715.1475 / firstname.lastname@example.org.