TradingScreen, which provides liquidity, trading, and investment technology via software as a service (SaaS), now complies with the CFTC rules under Dodd-Frank requiring firms to display mid-point pricing on foreign exchange pre-spot, forward outrights, non-deliverable forwards and swap trades.
The development means swap dealers and their clients that use TradingScreen will be in compliance with the rule when it goes into effect May 1.
“The buy side and sell side face many challenges in a constantly changing regulatory environment,” says 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.”
Mid-point price information, either calculated by TradingScreen or supplied by brokers, also can 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,” says 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.”