CFTC Proposes Swaps Report

[authors: Kevin M. Foley, Adam J. Spector]

On November 14, the Commodity Futures Trading Commission issued a proposed version of a report the CFTC is required to produce (as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act) that aims to provide the public with information concerning the swaps market (Swaps Report). The Swaps Report will include information on par with, or in greater detail than, information market participants are currently accustomed to receiving with regard to the CFTC’s Commitments of Traders Report, which provides trade information pertaining to the futures and options markets. It is proposed that such information will include the estimated notional amounts of swaps outstanding (broken down by asset class) and total weekly swap transaction volumes for interest rates swaps, credit swaps, equity swaps and commodity swaps.

The Swap Data Recordkeeping and Reporting Rule (17 CFR Part 45) sets forth the type of information required to be reported by swap execution facilities, designated contract markets, derivatives clearing organizations, swap dealers, major swap participants and other swap counterparties. The CFTC plans to publish the Swaps Report weekly (every Wednesday at 3:30 p.m., beginning in spring 2013).

More information on the Swaps Report can be found here.

 

Published In: Administrative Agency Updates, Finance & Banking Updates, Securities Updates

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.

© Katten Muchin Rosenman LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »