Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 17 - Commodity and Securities Exchanges |
Chapter I - Commodity Futures Trading Commission |
Part 37 - Swap Execution Facilities |
Subpart O - System Safeguards |
§ 37.1400 - Core Principle 14 - System safeguards.
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§ 37.1400 Core Principle 14 - System safeguards.
The swap execution facility shall:
(a) Establish and maintain a program of risk analysis and oversight to identify and minimize sources of operational risk, through the development of appropriate controls and procedures, and automated systems, that:
(1) Are reliable and secure; and
(2) Have adequate scalable capacity;
(b) Establish and maintain emergency procedures, backup facilities, and a plan for disaster recovery that allow for:
(1) The timely recovery and resumption of operations; and
(2) The fulfillment of the responsibilities and obligations of the swap execution facility; and
(c) Periodically conduct tests to verify that the backup resources of the swap execution facility are sufficient to ensure continued:
(1) Order processing and trade matching;
(2) Price reporting;
(3) Market surveillance; and
(4) Maintenance of a comprehensive and accurate audit trail.