Release Number 5923-10

October 15, 2010

CFTC/SEC Staffs to Host Joint Public Roundtable to Discuss Issues Related to the Clearing of Credit Default Swaps

Washington, DC — The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) staffs will hold a public roundtable on October 22, 2010, from 9:00 am to 12:00 pm, to discuss issues related to the clearing of credit default swaps. The roundtable will assist both agencies in the rulemaking process to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The roundtable will be held in the Lobby Level Hearing Room at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC. The discussion will be open to the public with seating on a first-come, first-served basis. Members of the public may also listen by telephone and should be prepared to provide their first name, last name and affiliation.

Listening information:

    • U.S. Toll-Free: 866-844-9416

    • International Toll: 1-203-369-5026

    • Passcode: 8693978

A transcript of the public roundtable discussion will be published on the CFTC’s website at:


Members of the public wishing to submit their views on the topics addressed at the roundtable may email their submissions to:

CFTC -- [email protected] (all emails must reference “Dodd-Frank CDS Roundtable” in the subject field).

SEC -- [email protected] or through the comment form available on the SEC website.

All submissions provided to either the CFTC or the SEC in any electronic form or on paper may be published on the website of the respective agency, without review and without removal of personally identifying information.

Agenda for the Joint CFTC/SEC Public Roundtable Discussion:

9:00 a.m

Session on Products and Processing

  • Characteristics of credit derivatives, including corporate index and single-name CDS and other credit derivatives.
  • Standardization, eligibility for clearing and pricing issues.
  • Operational issues, including credit event processing.
  • Reporting to trade repositories.

10:20 a.m


10:40 a.m

Session on Clearing Initiatives

  • Current products offered for clearing.
  • Prospective products offered for clearing.
  • Risk management practices, including access to price information, clearing member default management and management of jump-to-default risk.
  • Effect of clearing mandates.

12:00 p.m.

Roundtable concludes.

Last Updated: October 21, 2010