Real-Time Reporting for Swaps
The Commodity Futures Trading Commission (Commission) adopted regulations under Part 43 to implement certain statutory provisions enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Specifically, the Commission adopted rules to implement a framework for the real-time public reporting of swap transaction and pricing data for all swap transactions.
10/12/2012 SEFs, DCMs, and MSPs must report interest rate swaps and credit swaps executed on a SEF or DCM and “off-facility” swaps where at least one counterparty is an MSP. Registered SDRs for the interest rate and credit asset classes must accept and disseminate swap transaction and pricing data for those asset classes.
12/31/2012 SDs whose swap dealing activities exceeded either of the notional thresholds during the month of October, 2012 are required to be in compliance with the swap data real-time reporting requirements of Part 43 for credit swaps and interest rate swaps (“Compliance Date 1 Swaps”). See Division of Market Oversight No-Action Letter, CFTC Letter No. 12-32 PDF Image, issued November 19, 2012.
1/10/2013 SEFs, DCMs, and MSPs must report equity swaps, foreign exchange swaps, and other commodity swaps executed on a SEF or DCM and “off-facility” swaps where at least one counterparty is an MSP. Registered SDRs for the interest rate, credit, equity, foreign exchange, and other commodity asset classes must accept and disseminate swap transaction and pricing data for those asset classes.
2/28/2013 SDs whose swap dealing activities exceeded either of the notional thresholds during the month of October, 2012 are required to be in compliance with the swap data reporting requirements of Part 43 for equity swaps, foreign exchange swaps and other commodity swaps (“Compliance Date 2 Swaps”). See Division of Market Oversight No-Action Letter, CFTC Letter No. 12-41 PDF Image, issued December 5, 2012.
4/10/2013 Reporting and public dissemination of publicly reportable swap transactions in all asset classes by SEFs, DCMs, SDs, MSPs, and non-SD/MSP to non-SD/MSP off-facility transactions.