VIDEO: Pre-trade Documentation
Christina Norland of Chatham Financial discusses the documentation requirements under current Dodd-Frank regulation that must be met prior to trading. Thanks for watching!
Christina Norland: So, for all transactions that involve U.S. swap dealers or registered, non-U.S. swap dealers, many clients have to complete pre-trade documentation, that’s required by their banks. This is because the banks have specific requirements that they have to fulfill under Dodd-Frank to, ensure that they have complied with various business conduct standards as well as swap-trading relationship documentation standards. This often involves a little bit of pre-trade work that needs to be done that can kind of delay trading if it’s not completed, prior to the day of execution.