Non-Competitive Trading Training

The Commodity Exchange Act requires that every futures and options contract be traded openly and competitively, except for certain authorized non-competitive transactions. Block trades and Exchange for Related Positions (EFRPs) are the primary non-competitive trades authorized by Exchange rules.

Non-Competitive Trading Background

The CME, ICE U.S. and ICE Europe have specific rules for executing block trades and EFRPs; this course explains those rules in detail. It is designed for anyone who participates in qualified non-competitive trading — an area of strict regulatory scrutiny.

Appropriate employees of these NFA-member entities, as well as all market participants in block trades and EFRPs, can benefit from Non-Competitive Trading training:

  • Futures Commission Merchants (FCMs)
  • Independent and Guaranteed Introducing Brokers (IBs)
  • Commodity Trading Advisors (CTAs)
  • Commodity Pool Operators (CPOs)
  • Retail Foreign Exchange Dealers (RFEDs)
  • Swap Dealers (SDs)
  • Major Swap Participants (MSPs)
  • Market Participants

Training Course Benefits

  • Receive proof of training certificate
  • Educates staff on non-competitive trading rules
  • Written by a compliance & legal expert

Non-Competitive Trading Training Course

  • Course Type: Non-Competitive Trading
  • Length of Course: Approximately 40 minutes; you may save your progress and return to the program as often as needed.
  • Price: $75 (corporate volume discount pricing available)
  • Frequency: As determined by firm or customer
  • Course Outline: Download PDF
  • What's Included: Interactive course delivered via secure LMS platform; course completion confirmation to trainee and firm; electronic record archiving; on-demand record retrieval. There is no audio track on this course.

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Requirements

While Non-Competitive Trading training is not currently a regulatory requirement, a number of firms requested that we develop this course. During regulatory inquiries, firms may be asked if they have provided training in this area.