Frances Faulds
Frances Faulds

Cost and convenience - making the right strategic choices for FX under Dodd-Frank

As e-Forex went to press the FX industry was awaiting the imminent publication of the final rules and regulations governing SEFs from the CFTC. Frances Faulds looks at how the industry is readying itself for the new regulatory environment.

The impact of the new regulatory environment is now spreading geographically with EMIR likely to come into effect from mid next year. Bank entities that already have to manage Dodd Frank for trading with US entities will now, additionally, have to manage EMIR and other regulations for non-US entities and address their connectivity requirements for both clearing and reporting. Buy-side clients will need new connectivity to clearing members and onward connectivity to clearing houses - in some cases using existing affirmation/allocation platforms.  In many cases, however, new processes are demanding a new look at post trade processing across asset classes due to fundamentally different requirements in the world of OTC clearing.  Consequently, firms will be mindful to select vendors that are offering services capable of providing platform interoperability and that have the ability to cope with evolving regulations and processes globally. Traiana’s recent agreement with ICE Link to provide NDF...continued

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