If you are evaluating vendors for an OTC NGIS Software Suite, your RFP must demand the following CDRAR-specific capabilities:
: The primary interface used to check for internet updates and transfer new software revisions to the scan tool’s memory card. otc ngis software suite cdrar
While CFTC is the focus for US firms, the (effective 2024) imposes stricter reconciliation requirements for counterparties. The OTC NGIS Software Suite must support dual-hemisphere reporting. CDRAR should be able to reconcile a report sent to the CFTC (SDR) against a report sent to an EU Trade Repository (TR). If you are evaluating vendors for an OTC
The suite must generate a UTI based on an algorithm agreed upon by both counterparties (per ISDA 2021). It then must reconcile that UTI with the one submitted by the counterparty's dealer. If they don't match, CDRAR automatically initiates a "UTI knock-out" process. CDRAR should be able to reconcile a report