Robert Powell of Etrali Trading Solutions looks at the challenges of implementing the Dodd-Frank requirement to record trade-related communications in the swaps market.
One of the responses to the crisis in 2008 came in the shape of
the Dodd-Frank Wall Street Reform and Consumer Protection Act
(Dodd-Frank). The Act has seen the creation of new authorities
and capabilities that seek to ensure stability going
One part of Dodd-Frank is concerned with regulating the swaps
market. The recording of all trade-related communications by
traders active in the swaps market trading with, or in, the US
is also covered. Since March 2013, organisations have had to
comply with the call recording rules for both fixed line and
mobile for their swaps transactions.
In addition, the Commodity Futures Trading
record keeping requirements
pre-execution and post-execution communications for swaps
retained and searchable by transaction and
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