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Market Regulation

Electronic Futures Exchanges / Designated Contract Markets

Advances in technology and a revised regulatory structure are providing exciting opportunities for new and existing markets in the futures industry.

Whether you are an existing marketplace looking for ways to operate more efficiently or a start-up exchange in the process of building a successful business model, NFA can help your market succeed.

For more than two decades NFA has played a key role in ensuring the integrity of the U.S. futures markets. Now NFA can provide cost-effective regulatory services customized to fit your needs.

Swap Execution Facilities

The Dodd-Frank Act creates a new type of regulated marketplace: Swap Execution Facilities ("SEFs"), for which the Dodd-Frank Act establishes a comprehensive regulatory framework. Regulation 37.204 allows a SEF to contract with a registered futures association or another registered entity for regulatory services to assist the SEF in complying with the core principles. However, SEFs remain responsible for the execution of these functions and for compliance with their associated core principles.

NFA has provided regulatory services to designated contract markets ("DCMs") on a contractual basis for more than ten years. NFA, based on its demonstrated ability to provide these types of regulatory services, offers similar services to SEFs. In order to provide these services, NFA requires that each SEF enter into a Regulatory Services Agreement ("RSA") with NFA. NFA offers a menu of regulatory services:

  • Trade Practice Surveillance
  • Market Surveillance
  • Investigations
  • Disciplinary Actions
  • Financial Surveillance
  • Audit Trail Review
  • Dispute Resolution
  • Reporting

Contact Us For More Information Regarding Market Regulation

Edward Dasso, III
Vice-President of Market Regulation
(312) 781-1677

Jane Croessmann
Managing Director, Market Regulation
(312) 781-1568

Karen K. Wuertz
Senior Vice-President,
Strategic Planning and Communications
(312) 781-1335

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
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