FAQ

Frequently Asked Questions

Q. What is CecilRep?
A. CecilRep is a high performance web application designed to make it easy to generate, organize and distribute reports for the buy side, sell side and exchanges securely over the web.

Q. Is CecilRep a hosted service or a software application?
A. CecilRep is software that can be deployed as a Web Archive (war) on our own Class I hosting centers or on your own servers. Choosing either depends upon your requirements for security and support.

Q. Who uses CecilRep?
A. CecilRep is currently being used by institutional buy-side including hedge funds, brokerages, and exchanges and ECNs.

The buy-side uses CecilRep for position, profit and loss, transaction cost analysis (TCA), marging, risk, compliance, trade exception reports, and to manage Client Commission Allocations (CCA).

Brokerages use CecilRep for commission management, trade history, compliance including SEC section 28 (e) and commission allocation workflow with clients, and FIX log reporting and monitoring.

Exchanges and ECNs use CecilRep for trade history reporting to members and internal operational support.

Q. What makes CecilRep so powerful?
A. CecilRep uses search technology along with powerful integration tools to make it easy to organize and find report information. Search technology scales better and more economically than database technologies for the very large volumes encountered in current electronic trading environments.

Database technologies were designed in a time when magnetic storage was expensive and scarce. Modern search technologies are much better suited to today’s trading information where the underlying data structures change often, volumes are expanding, and users need to find what they need quickly and exactly.

Q. Can CecilRep use traditional databases?
A. Yes, CecilRep can use SQL databases such as Sybase, MySQL, Kdb and others, and can enhance performance significantly without replicating data.

Q. Which search technologies does CecilRep use?
A. CecilRep uses the open source project from Apache Software Foundation Jakarta project called Lucene [hyperlink: http://lucene.apache.org]. Besides text search, CecilRep represents numbers in a special format making results very fast.

Q. What canned reports are included with CecilRep?
A. Buy side and hedge funds:

• Position
• profit and loss
• margin
• dividend
• tax lots
• risk
• Trade Cost Analysis (TCA) for VWAP and implementation shortfall
• client commission allocation (CCA) reports and workflow with the sell side
• trade activity and reconciling
• trade exception
• Municipal Bond Trade Data (MSRB)

Sell-side:

• commission management, commission allocation and workflow with clients
• execution costs
• trade history
• FIX monitoring
• Municipal Bond Trade Data (MSRB)

Exchanges and ECNs:

• Trade history
• Trading system reconciling

Q. What reports are planned for the near future?

A.

• OATS reporting and compliance
• Broker execution costs associated with a trade, trader and client
• FIX network cost analysis
• Security Masters