Pro Non-Pro Subscriber Verification

MDMS provides a full service offering using proprietary software, data sources, experience, and knowledge to verify whether subscribers are professionals or non-professionals.  We then implement strategies and make recommendations to eliminate errors to minimize exchange costs.

Each of these steps have specific project plans and deserve their own time right now let’s talk about the implementation, or what we are going to provide you.

Best Practice Implementation – We are constantly working with our clients and industry stakeholders to identify the most effective way to validate and communicate with subscribers concerning their non-pro status. When we see something working or not we are quick to implement it across all out clients. We have seen there are a lot of people and departments involved but are not always aware of their responsibilities. Or, there are inadequate processes in place for them to work together. Our best processes implementation will help you align all your stakeholders.

Automated Subscriber Verification – At the center of our service is best in breed software which can efficiently augment our process with AI and machine learning. We can process your subscriber lists at speeds and accuracy far greater than a human, or a room full of humans can. We access 10+ databases and employ cutting edge technology.

Yearly Recertification – Exchanges have required this, they did not enforce it, they are starting to. Since we are using software we can recertify your subscribers we

recommend annually. We have seen this result in cost savings in some cases. Since our software can process at several hundred subscribers per hour and it does not sleep or take off weekends we can perform an annual recertification keeping the data fresh.

Risk Monitoring – We can work with your internal teams, Legal, market data technology etc. to make sure that risk is under control. New features, data and policy can lead to

new risk forming, but we position ourselves to make sure you keep it in check.


Policy Interpretation – Speaking of policy, we converse with the exchanges a few times a month besides the scheduled quarterly meetings where we specifically discuss pro – non-pro state of affairs. We stay on top of changes and the pipeline to make sure your internal stake holders are aware of actions needed to be taken. .


Audit Defense – Look it’s not if, it’s when. When, when happens we are there with our playbook to guide you through the audit process and can even represent you if needed. All the classification data is stored in the software and we have access to artifacts needed to support classifications you will be reporting on.


We have a three-step process where we come in and do an assessment, develop a recommendation and implement the service. There are little nuances which make each firm a little different. We like to learn about your processes and people, recommend where changes might have positive impacts and then embed our service into your workflow.

  Our process is as follows:


  • Client sends MDMS a Subscriber File on daily, weekly or monthly basis

  • MDMS loads file into our subscriber verification software

  • The system categorizes the subscribers into 3 categories

    • First category is Professional

    • Second category in Non-Professional

    • Third category is a Grey list.

  • MDMS then analyzes the Grey list to understand why a specific classification could not be made

    • Due to missing information

    • Due to an issue with an email address

    • Due to an issue with a physical mailing address

    • Due to employer or occupation issues

  • MDMS researches Grey list to make a final determination

  • MDMS provides post processing file back to client with recommendations on next steps to address Pros and remaining Grey list

  • The client can then contact the subscriber and implement the recommendations

  • MDMS will annually re-certify every subscriber

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