Dodd- Frank Mandatory Clearing Iris tested the implementation of Dodd -Frank rules for Mandatory Clearing of non -deliverable Currency Forward contracts and Currency Options. Overview A l e ad i n g I n ves tme n t Ba n k eng a ge d Ir is a s a n i ndepe n de nt ve r ifi er o f Tr ad e workfl o w m e c h a n ic s an d connect ivit y of i n ter n a l s yst ems to C entra l C ou nt er part i e s (CCPs ) , clearing me mbe rs, a nd m i d dl ew a r e ( m a t ch ing an d a ffi rma t i o n tool s) p rovi d ers d u rin g t he imp l ementation o f t h e ru le s cont a i n e d in t h e Dodd-Fr a n k Ac t f or Mand a tory C lear in g of N o n - d e live rab l e FX forw a rd c on t r a

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