Omgeo has enhanced its collateral management solution to help users meet the new Commodity Futures Trading Commission (CFTC) reporting requirements.
Adopted in response to the Dodd-Frank Act, new CFTC business conduct rules are creating increased reporting requirements for swap dealers and major swap participants.
The new mandate requires swap dealers and major swap participants to provide daily mark-to-market reporting for many of their open derivative positions. For the first time, firms are required to support the delivery of mark-to-market statements to their counterparties, contributing counterparties or both.
Omgeos ProtoColls solution helps clients comply with these new daily mark-to-market reporting mandates by consolidating existing user data and allowing for rapid creation of required reports.
(JDC)