We work with all types of derivatives/commodities market participants, including: Exchanges, futures commission merchants (FCMs), introducing brokers (IBs), commodity pool operators (CPOs), commodity trading advisors (CTAs) and derivatives clearing organizations (DCOs).
The chart below provides detail on the types of services we offer for regulated commodities and derivatives firms:
The Dodd-Frank Act of 2010 introduced new registration categories for certain market participants, including: Swap Dealers (SDs) and Swap Execution Facilities (SEFs). We work with both entities.
SDs and SEFs
Bovill has kept at the forefront of OTC derivatives reform. Having already validated existing SEFs technological compliance with CFTC rules, we are aware of the common gaps as well as industry market practices that are evolving. While the scope of our audit will vary from firm to firm, we focus on:
- Risk controls
- Trade surveillance and trading activity
- Data storage and management
- Trading system order and matching functionality
- Entitlements and data protection
- Clearing and reporting functionality
- Business continuity and disaster recovery