OpenLink expands its range of Dodd-Frank compliance solutions
OpenLink Financial, a provider of cross-asset trading, risk management and operations processing software solutions, is planning to expand its suite of Dodd-Frank Regulatory Compliance solutions with ICE Trade Vault Swap Data Repository (SDR) reporting capabilities.
This solution will enable commodity and energy market participants to comply with US Commodity Futures Trading Commission SDR reporting requirements resulting from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Bruce Tupper, President of ICE Trade Vault, said: “The combination of ICE Trade Vault and OpenLink will allow global market participants to benefit from our functionality and compliance tools, helping them manage new reporting requirements through a well-designed, cost-effective solution.”
OpenLink’s SDR solutions are a key part of the firm’s suite of Dodd-Frank Regulatory Compliance solutions and will support reporting of CFTC required swap data including, primary economic terms, confirmation, continuation and valuation data.
To comply with Dodd-Frank, market participants must submit trade data on swap transactions to SDRs – the new entities created by the Dodd-Frank Act to provide a central facility for swaps data reporting and recordkeeping.
All swaps, whether cleared or uncleared, are required to be reported to registered SDRs. ICE Trade Vault is currently the only approved SDR by the CFTC for the commodity and energy, interest rate swaps, credit default swaps and foreign exchange asset classes.