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RELEASE: pr7329-16

  • February 18, 2016

    CFTC Staff Extends Request for Comment Period on Draft Technical Specifications for Certain Swap Data Elements

    Washington, DC — The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Office of Data and Technology staff today extended the request for comment period on the draft technical specifications for certain prioritized swap data elements and associated questions. The comment period will be extended to March 7, 2016. This extension will allow the CFTC’s Technology Advisory Committee and other interested parties to discuss the request for comment at a public meeting on February 23, 2016.

    The request for comment seeks public input on 80 enumerated questions addressing 120 data elements for several swap data reporting topics including counterparty-related elements, price, clearing, product, periodic reporting, orders, package transactions, options, additional fixed payments, notional amount, events, rates and foreign exchange. The draft technical specifications include certain swap data elements that are reportable under Part 45 and related provisions of the CFTC’s regulations, as well as certain swap data elements that are not currently reportable under the CFTC’s regulations, but which have been identified by staff as data elements that – when reported in a consistent and clear manner – may assist the CFTC in fulfilling its regulatory mandates, including systemic risk mitigation, market monitoring and market abuse prevention.

    Comments received will inform the staff’s ongoing efforts to improve swap transaction data quality and determine whether any clarifications, modifications and enhancements may be necessary for swap data repositories to appropriately transmit this subset of swap data elements to the CFTC.

    Comments may be submitted electronically through the CFTC’s Comments Online process. All comments received will be posted on the CFTC’s website.

    Last Updated: February 18, 2016

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