Tradition Reaches Agreement with NFA on SEF Regulatory Functions
Global interdealer broker Tradition has announced it has agreed a pre-launch services agreement with the National Futures Association (NFA) to provide regulatory services for Tradition’s new swap execution facility.
The framework established in the agreement provides for information exchange and technology standards that will facilitate the development of automated trade practice and surveillance systems, and procedures required of Tradition to meet self-regulatory requirements.
The agreement will be formalized upon final rules issuance regarding SEFs by the Commodity Futures Trading Commission.
"This is a significant step forward as we engage in new regulatory activity on behalf of SEFs. For over 10 years, NFA has been successfully performing trade practice and market surveillance functions on behalf of futures exchanges. We look forward to working with Tradition as we enhance our surveillance systems to assist SEFs in meeting their regulatory responsibilities," says NFA president Daniel Roth.
This is the second such agreement for the NFA in as many months; a similar preliminary deal was reached with Icap in March.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Leading the charge: Nitin Tandon spearheads Vanguard’s tech ambitions
The asset manager’s CIO is drawing on his past experiences to propel the 49-year-old firm into the future.
All eyes turn to North America as T+1 arrives
As T+1 settlement becomes a reality in North America, long-lingering questions will get their answers.
Waters Wrap: Quants, CDOs, and the blending of job titles
Anthony explains how a quant at a massive bank taking on the CDO title hints at larger industry changes.
Nasdaq to market new options strike listing tech to other exchanges
The exchange operator is experimenting with emerging technologies to determine which options strike prices belong in a crowded market, with hopes to sell the tech to its peers.
The IMD Wrap: Talk about ‘live’ data, NAFIS 2024 is here
This year’s North American Financial Information Summit takes place this week, with an expanded agenda. Max highlights some of the must-attend sessions and new topics. But first, a history lesson...
MarketAxess builds strategy around X-Pro
MarketAxess profits were down in Q1, but revenues were up and automation volume hit a record $94 billion.
Canada’s triparty repo launch aims to fill C$60bn void
Test trades on TMX/Clearstream platform represent “quantum leap” for creaking funding markets.
People Moves: NorQuant, Tradition, Duco, HKEx, SimCorp, Hazeltree, Xceptor, Broadridge, and more
A look at the past month’s people moves in the capital markets technology and data space.
Most read
- All eyes turn to North America as T+1 arrives
- IMD & IRD Awards 2024: All the winners
- Best corporate actions data initiative—S&P Global Market Intelligence