Eligible Contract Participant Rules Take Effect

October 12, 2012 — Cleveland, OH — Effective today, as mandated by the Dodd-Frank Act, all derivatives participants are required to qualify as Eligible Contract Participants (ECP’s).    B&F has worked closely with legislators and industry regulators over the past few years to ensure continued access to these products for qualified bank clients. 

Alistair Fyfe, B&F’s co-Founder and President commented, “Although the final rules are complex, we have enhanced our software and processes to allow our clients to quickly determine and track the ECP status of their clients.”   d/Front℠, B&F’s industry leading front-office CRM software, is used by both B&F and several large swap dealers to manage their client relationships and comply with the mandates of Dodd-Frank. 

B&F carefully monitors regulatory developments related to derivatives on behalf of its bank clients and, when necessary, suggests changes to their policies and procedures to ensure that they remain in compliance.  

Questions regarding ECP or other derivatives regulatory issues can be directed to Alistair Fyfe at 216-472-2701 or Derek Beitzel at 512-329-2425.