November 28, 2012

CFTC Staff Withdraws Elements of the “Frequently Asked Questions on Reporting of Cleared Swaps”

Washington, DC –Staff of the Commodity Futures Trading Commission (Commission) today withdrew parts of its “Frequently Asked Questions on Reporting of Cleared Swaps.” Specifically, staff withdrew the following questions, and their corresponding answers:

“Which party has the authority to select the particular SDR for purposes of cleared swap reporting?”

“May a DCM, SEF or DCO that is also registered as an SDR or legally affiliated with an SDR require counterparties to use their “captive” SDR for reporting swap transactions?”

“Where must the resulting swaps created through the clearing process be reported?”

Matters raised in the questions and answers withdrawn by staff are now under consideration by the Commission as part of its review of a request from the Chicago Mercantile Exchange Inc. for approval of CME Rule 1001–“Regulatory Reporting of Swap Data,” submitted pursuant to section 40.5 of the Commission’s regulations. Today the Commission requested public comment on the CME rule submission.

The staff FAQ, as amended, is available under related links.

Last Updated: November 28, 2012