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Noncompetitive Trading Training

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

Noncompetitive 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 noncompetitive 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 Noncompetitive 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 noncompetitive trading rules
  • Written by a compliance & legal expert

Noncompetitive Trading Training Course

  • Course Type: Noncompetitive Trading
  • Length of Course: Approximately 40-50 minutes; you may save your progress and return to the program as often as needed.
  • Price: $35 (corporate volume discount pricing available)
  • Frequency: As determined by firm or customer
  • Course Outline And Provider Qualifications: 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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While Noncompetitive 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.