Market Regulation: Designated Contract Markets and Swap Execution Facilities
IDFA has provided regulatory services to designated contract markets (DCM) for more than 15 years. The Dodd-Frank Wall Street Reform Act created a new type of trading venue for standardized swaps—swap execution facilities (SEF)—each of which has self-regulatory responsibilities to monitor trading on its platform. The CFTC's SEF rules allowed these entities to contract with IDFA for regulatory services. IDFA entered into Regulatory Service Agreements (RSA) to perform surveillance activities with the majority of the SEFs registered with the CFTC.
In order to provide these services, IDFA requires that each DCM or SEF enter into a standardized RSA with IDFA.
IDFA offers a menu of regulatory services:
- Trade Practice and Market Surveillance
- Investigations and Disciplinary Matters
- Audit Trail Review
- Arbitration
- Reporting and Recordkeeping
IDFA's Market Regulation team includes dedicated analysts with extensive experience in the financial markets. Each member of IDFA's team is a certified fraud examiner (CFE), and many are chartered financial analysts (CFA), certified public accountants (CPA), or former traders.
For more information contact IDFA and ask for Edward Dasso, III., Senior Vice President of Market Regulation.