Liquidity, trading and investment technology provider, TradingScreen, is now compliant with the US Commodity Futures Trading Commission’s (CFTC) rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act, covering certain foreign exchange transactions.
The firm says that is it compliant with the rules that require firms to display mid-point pricing on FX pre-spot, forward outrights, non-deliverable forwards and swap trades, ahead of when the Dodd-Frank rules come into effect on 1 May 2013. TradingScreen is compliant ahead of the deadline to reduce the chance of service interruption for its clients.
The mid-point price information can also be used to support clients’ transaction cost analysis (TCA); the data is either calculated by TradingScreen or supplied by brokers.
Jean-Philippe Malé, head of OTC for TradingScreen, says, “The buy side and sell side face many challenges in a constantly changing regulatory environment. TradingScreen is working hard to ensure that our clients and partners stay ahead of these mandates, without bearing additional costs or delays.”
Jon Fatica, head of analytics, adds, “The new Dodd-Frank requirements add a great deal of transparency and insight into foreign exchange trading. 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.”