Adequate Procedures and Controls Associated with Swap Transactions Should Exist

Adequate procedures and controls associated with swap transactions should exist to help minimize the risks inherent in transaction process. Example/s of these controls may include:

A) A daily reconciliation of traders' positions should be performed
B) To minimize market risk in hedge transactions: There should be independent sign-off procedures for hedging models All hedge strategies should be clearly defined All software and products should be secure and temper resistant
C) All transactions should be authorized and affirmed
D) All of these

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