Client Clearing Documentation, Straight Through Processing, Clearing Member Risk Management
The Commodity Futures Trading Commission (Commission) adopted rules to implement new statutory provisions enacted by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These rules address: The documentation between a customer and a futures commission merchant that clears on behalf of the customer; the timing of acceptance or rejection of trades for clearing by derivatives clearing organizations and clearing members; and the risk management procedures of futures commission merchants, swap dealers, and major swap participants that are clearing members.
For SDs and MSPs, the compliance date is the later of October 1, 2012 or the date the SD/MSP registration rules are effective
10/1/2012 For FCMs, DCMs, and DCOs, these rules are effective October 1, 2012
For SEFs, the rules are effective on the date the rules implementing the core principles for SEFs are effective.