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March 01, 2011
NFA hires Edward Dasso as new Vice President to head surveillance program for swap execution facilities
March 1, Chicago - National Futures Association has hired Edward Dasso as Vice President of Market Regulation, a new position created to oversee the surveillance of swap execution facilities (SEF). Dasso comes to NFA from the InterContinental Exchange, where he served as the Manager of Market Regulation. Dasso previously spent several years at NFA as the Managing Director of Trade Practice and Market Surveillance (TPMS).
"Due to the Dodd-Frank legislation and rules recently proposed by the Commodity Futures Trading Commission (CFTC), NFA anticipates an expansion in its TPMS clients within the next several months," said NFA President Dan Roth. "Ed's extensive background and experiences make him particularly well suited for this position."
The Dodd-Frank legislation calls for all standardized swaps to be traded either on a futures exchange or on a SEF. The SEFs will be subject to certain core principles, including ones that require the SEFs to perform surveillance and other self-regulatory activities.
"The CFTC has proposed allowing SEFs to outsource certain regulatory functions to NFA and several SEFs have already approached us about performing these duties," said Roth.
NFA currently provides market surveillance activities for the CBOE Futures Exchange, NASDAQ Futures Exchange, NYSE Liffe U.S. and ELX Futures LP.
Dasso has also worked at the Chicago Board of Trade in the Office of Investigations and Audits. He graduated from the Kelley School of Business at Indiana University and received his MBA from Loyola University Chicago with specializations in Finance, Derivatives and Information Systems.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.