TradingScreen Inc. (TradingScreen), the leading independent provider of liquidity, trading, and investment technology via SaaS, today announced that it is in compliance with the final CFTC rules under the Dodd-Frank Act covering certain foreign exchange (FX) transactions, requiring firms display mid-point pricing on foreign exchange pre-spot, forward outrights, non-deliverable forwards and swap trades.
By building in the new functionality ahead of deadline, TradingScreen ensures that swap dealers and their clients experience uninterrupted service when the Dodd-Frank rules go into effect on May 1, 2013.
"The buy side and sell side face many challenges in a constantly changing regulatory environment," said Jean-Philippe Malé, Head of OTC for TradingScreen. "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 (TCA).
"The new Dodd-Frank requirements add a great deal of transparency and insight into foreign exchange trading," said Jon Fatica, Head of Analytics for TradingScreen. "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."