CFTC Reminds Market Participants of Swap Data Reporting Requirements

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The Commodity Futures Trading Commission’s Division of Market Oversight issued an advisory to remind market participants that pursuant to Parts 43 and 45 of the CFTC’s regulations, swap dealers were required to begin reporting data to a swap data repository (SDR) pertaining to equity, foreign exchange and other commodity swaps on February 28. The advisory further reminds market participants that under Part 46 of the CFTC’s regulations, swap dealers must also report data regarding swaps entered into prior to the compliance date for Part 45 reporting. Part 46 compliance with respect to equity, foreign exchange and other commodity swaps is required by March 30, 2013. February 28 also marked the beginning of major swap participants’ requirement to report data pertaining to swaps of all asset classes. All other swap counterparties (i.e., entities that are not swap dealers or major swap participants) must be in compliance with the swap data reporting rules for all asset classes by April 10, 2013. All swap data reported is accessible electronically by the public through each SDR’s website.

The CFTC’s advisory can be found here. For more information, click here.

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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