Minneapolis, Minnesota (PRWEB) July 17, 2012
Open Access Technology International, Inc. (OATI) announces the release of its Dodd-Frank solution to aid companies in their compliance with the Wall Street Reform and Consumer Protection Act, commonly referred to as the Dodd-Frank Act.
The OATI Dodd-Frank solution provides energy companies trading in swaps with the functionality to comply with requirements, including collecting primary economic terms of regulated swaps, recordkeeping, and reporting. Other functionalities include transaction evaluation for continuation data (including mark-to-market valuation) and hedge effectiveness functionality for over-the-counter (OTC) trades.
On July 10, 2012, the Commodity Futures Trading Commission (CFTC) passed swap definition rules, finalizing the last step to implement the swap data recordkeeping and reporting rules, which were published in January 2012. With the CFTC’s final approval on the definition of swap, the dates for compliance with these rules are set in motion, requiring energy companies that deal in swaps to act quickly in determining plans for compliance.
For more information, contact sales(at)oati(dot)net.
OATI provides innovative software solutions that simplify, streamline, and empower the operational tasks required in today’s energy commerce and Smart Grid. With 1,200 customers across North America, OATI successfully deploys large, complicated, and diverse mission-critical applications committed to industry standards and stringent NERC CIP guidelines. OATI (http://www.oati.com) is the leading provider of Smart Grid, Energy Trading and Risk Management, Transmission Scheduling, Congestion Management, and Market Management products and services, with headquarters in Minneapolis, Minnesota and an office in Redwood City, California. For more information, please contact sales(at)oati(dot)net.