Compliance

11:37 AM
Connect Directly
Facebook
Google+
Twitter
RSS
E-Mail
50%
50%

TradingScreen Adds FX Functionality for Dodd Frank Compliance

The firm's EMS now offers midpoint pricing on FX pre-spot, forwards, NDFs and swap deal types, ahead of the regulation's deadline on May 1st.

TradingScreen has added functionality to its execution management system (EMS) that is in compliance with the Dodd-Frank Act covering certain foreign exchange transactions. The Act requires firms to display midpoint pricing on FX pre-spot, forward outrights, non deliverable forwards and swap trades.

Trading Screen said it implemented the functionality ahead of the deadline to ensure that swap dealers and their clients experience uninterrupted service when the Dodd Frank rules to into effect on May 1, 2013.

“The buy side and sell side face many challenges in a constantly changing regulatory environment,” commented Jean-Philippe Malé, Head of OTC for TradingScreen in today’s release. “TradingScreen is working hard to ensure that our clients and partners stay ahead of these mandates, without bearing additional costs or delays.”

This mid-point price information, which is either calculated by TradingScreen or supplied by brokers, can also be used to assist with clients’ transaction cost analysis or TCA, the company said.

“The new Dodd-Frank requirements add a great deal of transparency and insight into foreign exchange trading,” stated Jon Fatica, Head of Analytics for TradingScreen in the same release. “The mid-point price information makes our current transaction cost analysis platform even more valuable, helping traders identify lower-cost execution venues and increase alpha.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Stressed Out by Compliance, Reputational Damage & Fines?
Stressed Out by Compliance, Reputational Damage & Fines?
Financial services executives are living in a "regulatory pressure cooker." Here's how executives are preparing for the new compliance requirements.