Market Regulation: Designated Contract Markets and Swap Execution Facilities

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NFA has provided regulatory services to designated contract markets (DCM) for more than 15 years. The Dodd-Frank Wall Street Reform Act created a new type of trading venue for standardized swaps—swap execution facilities (SEF)—each of which has self-regulatory responsibilities to monitor trading on its platform. The CFTC's SEF rules allowed these entities to contract with NFA for regulatory services. NFA entered into Regulatory Service Agreements (RSA) to perform surveillance activities with the majority of the SEFs registered with the CFTC.

In order to provide these services, NFA requires that each DCM or SEF enter into a standardized RSA with NFA.

NFA offers a menu of regulatory services:

  • Trade Practice and Market Surveillance
  • Investigations and Disciplinary Matters
  • Audit Trail Review
  • Arbitration
  • Reporting and Recordkeeping

NFA's Team

NFA's Market Regulation team includes dedicated analysts with extensive experience in the financial markets. Each member of NFA's team is a certified fraud examiner (CFE), and many are chartered financial analysts (CFA), certified public accountants (CPA), or former traders.

Contact Us for More Information Regarding Market Regulation

Edward Dasso, III
Vice President, Market Regulation
312-781-1677
edasso@nfa.futures.org

Jane Croessmann
Managing Director, Market Regulation
312-781-1568
jcroessmann@nfa.futures.org