November 15, 2013

CFTC’s Division of Market Oversight Issues New Guidance on the Application of Certain Commission Regulations to Swap Execution Facilities

Washington, DC — The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) issued new guidance today to swap execution facilities (SEFs) and applicants for registration as a SEF concerning certain Commission regulations.

There are six areas addressed by today’s guidance, which include: a SEF’s use of proprietary data or personal information collected by the SEF from its market participants; consent to the jurisdiction of a SEF; registration requirements under Commission regulation 37.3; and member guarantees. In addition, although DMO addressed the types of actions a SEF may take during an emergency in its September 30 Guidance, today’s guidance again reiterates the requirements for taking emergency actions and it clarifies certain SEF reporting obligations.

Last Updated: November 15, 2013