Segregation and Bankruptcy

Segregation & Bankruptcy for both Cleared and Uncleared Swaps

The Commission issued proposed rules to implement segregation rules for uncleared swaps to implement the Dodd-Frank Act.  The Comment Period has closed.

Information regarding Segregation & Bankruptcy for both Cleared and Uncleared Swaps is provided below, including factsheets for each rule, and details of meetings held between CFTC staff and outside parties.

Related Federal Register Releases

Final Rule: 78 FR 66621 // PDF Version
11/6/2013
17 CFR Parts 23 and 190 Protection of Collateral of Counterparties to Uncleared Swaps; Treatment of Securities in a Portfolio Margining Account in a Commodity Broker Bankruptcy
Effective Date: Monday, January 06, 2014

Final Rule: 77 FR 6336 //PDF Version
2/7/2012
17 CFR Parts 22 and 190 Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy Provisions
Effective Date: Monday, April 9, 2012

Proposed Rule: 76 FR 33818 // PDF Version
6/9/2011
17 CFR Parts 22 and 190 Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy Provisions
Comment File - Closing Date: 8/8/2011

See also:

76 FR 35141 // PDF Version
6/16/2011
Correction: 17 CFR Parts 22 and 190 Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy Provisions; Correction

Proposed Rule: 75 FR 75432 // PDF Version
12/3/2010
17 CFR Parts 23 and 190 Protection of Collateral of Counterparties to Uncleared Swaps; Treatment of Securities in a Portfolio Margining Account in a Commodity Broker Bankruptcy
Comment File - Extended Date: 6/3/2011

Proposed Rule: 75 FR 75162 // PDF Version
12/2/2010
17 CFR Part 190 Protection of Cleared Swaps Customers Before and After Commodity Broker Bankruptcies
Comment File - Closing Date: 1/18/2011

Additional Information

Fact Sheet: Final Rule on the Protection of Cleared Swaps Customer Contracts and Collateral and Conforming Amendments to the Commodity Broker Bankruptcy Provisions

Q&A: Final Rule on the Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy Provisions

Event: Open Meeting on Three Final Rules, One Proposed Rule and a Delegation of Authority Order

Event: CFTC Staff Roundtable to Discuss Protection of Cleared Swaps Customer Collateral
- Transcript
- Roundtable Comment File

Fact Sheet: Proposed Rule on the Protection of Cleared Swaps Customer Contracts and Collateral and Conforming Amendments to the Commodity Broker Bankruptcy Provisions

Q&A: Protection of Cleared Swaps Customer Contracts and Collateral

Event: Open Meeting on Fourteenth Series of Proposed Rules under the Dodd-Frank Act

Fact Sheet: Advanced Notice of Proposed Rulemaking on Protection of Cleared Swaps Customers Before And After Commodity Broker Bankruptcies

Q&A: Protection of Cleared Swaps Customers Before And After Commodity Broker Bankruptcies

Fact Sheet: Proposed Rule on Protection of Collateral of Counterparties to Uncleared Swaps

Q&A: Protection of Collateral of Counterparties to Uncleared Swaps

Event: Open Meeting on Fifth Series of Proposed Rules under the Dodd-Frank Act

Date

SUBMISSION

10/30/2013

Transcript: Open Meeting to Consider Enhancing Protections for Futures Customers and Other Business
CFTC

01/11/2012

Transcript: Open Meeting on Two Final Rule Proposals Under The Dodd-Frank Wall Street Reform and Consumer Protection Act
CFTC

12/15/2011

CIEBA_1191
From External Meeting on 12/15/2011

06/03/2011

Transcript: Protection of Cleared Swaps Customer Collateral
CFTC

04/27/2011

Transcript: Open Meeting on the Fourteenth Series of Proposed Rulemakings Under the Dodd-Frank Act
CFTC

04/15/2011

ex parte 4-15-11_693
From External Meeting on 4/15/2011

02/16/2011

RIN No. 3038-AD99: Advanced Notice of Proposed Rulemaking - Protection of Cleared Swaps Customers Before and After Commodity Broker Bankruptcies (75 Fed. Reg. 75162)
Christopher Young, ISDA

01/18/2011

Comments: 75 FR 75162
David Murphy

11/19/2010

Transcript of Open Meeting on the Fifth Series of Proposed Rulemakings Under the Dodd-Frank Act
CFTC

11/18/2010

No Subject
Independent Community Bankers of America

11/16/2010

Re: Pre-Proposal Comments Related to Segregation of Collateral for Swaps
State Street

11/16/2010

101116.StateStreet_325
StateStreet, From External Meeting on 11/16/2010

11/15/2010

Customer Protection for Cleared Swaps
BlackRock

11/15/2010

Segregation of Client Funds for Cleared Swaps under Section 724 of the Wall Street Reform and Consumer Protection Act (the ?Act?)
National Rural Electric Cooperative Association

11/15/2010

CFTC Rulemaking Regarding Segregation of Client Funds for Cleared Swaps Under Section 724 of the Dodd-Frank Act
The Farm Credit Council

11/15/2010

Section 724 (Segregation and Bankruptcy) of the Wall Street Reform and Consumer Protection Act (The ?Act?)
American Public Gas Association

11/15/2010

Section 724 (Segregation and Bankruptcy) of the Wall Street Reform and Consumer Protection Act (The ?Act?)
National Sorghum Producers

11/15/2010

Segregation of Client Funds for Cleared Swaps under Section 724 of the Wall Street Reform and Consumer Protection Act (the ?Act?)
Natural Gas Supply Association

11/15/2010

Pre-Proposal Comments Related to Segregation of Collateral for Swaps
State Street

11/15/2010

RE: Customer Protection for Cleared Swaps
BlackRock

11/15/2010

Section 724
American Public Gas Association

11/15/2010

No Subject
National Farmers Organization

11/02/2010

Summary
OTC Derivatives Regulators' Forum

11/02/2010

OTC Clearing For Oil, Commodity, Freight & Financial Derivatives
SGX Asiaclear

11/02/2010

Meeting Participants
OTC Derivatives Regulators' Forum

11/02/2010

Proposed Agenda
OTC Derivatives Regulators' Forum

11/02/2010

SGX Asiaclear_PUBLIC_328
SGX ASIACLEAR, From External Meeting on 11/2/2010

11/02/2010

ODRF_2 Nov Meeting_CCP Attendees (3 Nov)_328
OTC Derivatives Regulators’ Forum, From External Meeting on 11/2/2010

11/02/2010

Summary of ODRF meeting_2 -3 Nov_Final_328
OTC Derivatives Regulators Forum, From External Meeting on 11/2/2010

11/02/2010

ODRF_ 2 Nov Agenda_CCP Session (22 October)_328
OTC Derivatives Regulators’ Forum, From External Meeting on 11/2/2010

10/27/2010

Capital, Margin and Segregation Requirements
SIFMA

10/22/2010

Transcript: Individual Customer Collateral Protection
Commodity Futures Trading Commission

10/21/2010

CFTC Customer Collateral Letter
Newedge USA, LLC

10/08/2010

Re: Pre-proposal Comments Related to Segregation of Collateral for Uncleared Swaps
ISDA

09/29/2010

Natural Gas Supply Association
Natural Gas Supply Association

09/29/2010

Round Table Discussion
BlackRock

09/29/2010

Key Control Agreement Provisions
BlackRock

09/29/2010

NGSA CFTC Comments_09.28.2010_100
Natural Gas Supply Association (NGSA), From External Meeting on 9/29/2010

09/28/2010

CustomerProtectionAgenda (2)_159
Blackrock, From External Meeting on 9/28/2010

09/23/2010

Key Control Agreement Provisions_113
Blackrock, From External Meeting on 9/23/2010

09/15/2010

FCM 1.20 Account Segregation - Operations Considerations
Futures Industry Association

09/15/2010

CFTC_Market_Structure_v11_diagrams_(CFTC_Version)_89
Futures Industry Association, From External Meeting on 9/15/2010

09/02/2010

Comment on Requirement to Register as FCM upon Acceptance of Collateral
Ropes & Gray LLP

09/01/2010

Argus Oil Market Regulation Summit 2010
Argus

09/01/2010

dmb argus_72
Argus Oil Market Regulation Summit 2010