TeraExchange Appoints New Chief Compliance Officer Post SEF Approval
- Multi-asset Swap Execution Facility (SEF) provider, TeraExchange has appointed a new Chief Compliance Officer and Senior Vice President. Andrew V. Waskow, he will oversee surveillance of trading on TeraExchange and the newly approved SEF.
US-based TeraExchange, LLC, an Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term venue offering a range of OTC derivatives, including interest rate Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term and non-deliverable forwards, has announced that Andrew V. Waskow has been appointed as the Chief Compliance Officer (CCO) and Senior Vice President. Mr. Waskow will manage compliance and regulatory affairs on a global basis.
The move comes after the firm recently acquired official temporary approval from the CFTC for its Swap Execution Facility. SEFs have gone live from the second of October, thus creating a new layer of transparency in OTC derivatives.
"We are committed to providing our market participants with a fair and well-governed platform where they can execute their trading and hedging strategies with confidence," said Mr. Waskow in a statement to the media.
As the firm's CCO, Mr. Waskow will oversee governance and surveillance of trading on TeraExchange's markets, manage the SEF's rule and policy-writing processes, and design and implement enforcement programs. He will also actively engage with the regulatory community and coordinate strategy in connection with rule-making and supervisory efforts.
Mr. Waskow joined the TeraExchange team last year in autumn, and played a pivotal role in assisting the firm with its SEF application.
"Andy was instrumental in our successful SEF application process. We know he'll be equally successful in overseeing compliance on our active markets," said TeraExchange President and COO Leonard T. Nuara.
Mr. Waskow, an industry veteran, has a long-standing career in the world's largest banking groups.He spent nine years at Goldman Sachs and three years at Merrill Lynch as an attorney providing strategic guidance on a wide range of trading and capital markets matters.
US-based TeraExchange, LLC, an Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term venue offering a range of OTC derivatives, including interest rate Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term and non-deliverable forwards, has announced that Andrew V. Waskow has been appointed as the Chief Compliance Officer (CCO) and Senior Vice President. Mr. Waskow will manage compliance and regulatory affairs on a global basis.
The move comes after the firm recently acquired official temporary approval from the CFTC for its Swap Execution Facility. SEFs have gone live from the second of October, thus creating a new layer of transparency in OTC derivatives.
"We are committed to providing our market participants with a fair and well-governed platform where they can execute their trading and hedging strategies with confidence," said Mr. Waskow in a statement to the media.
As the firm's CCO, Mr. Waskow will oversee governance and surveillance of trading on TeraExchange's markets, manage the SEF's rule and policy-writing processes, and design and implement enforcement programs. He will also actively engage with the regulatory community and coordinate strategy in connection with rule-making and supervisory efforts.
Mr. Waskow joined the TeraExchange team last year in autumn, and played a pivotal role in assisting the firm with its SEF application.
"Andy was instrumental in our successful SEF application process. We know he'll be equally successful in overseeing compliance on our active markets," said TeraExchange President and COO Leonard T. Nuara.
Mr. Waskow, an industry veteran, has a long-standing career in the world's largest banking groups.He spent nine years at Goldman Sachs and three years at Merrill Lynch as an attorney providing strategic guidance on a wide range of trading and capital markets matters.