View Rule
View EO 12866 Meetings | Printer-Friendly Version Download RIN Data in XML |
CFTC | RIN: 3038-AE79 | Publication ID: Spring 2020 |
Title: Post-Trade Name Give-Up on Swap Execution Facilities | |
Abstract:
The Commodity Futures Trading Commission ("Commission") proposed to amend part 37 of the Commission’s regulations to prohibit "post-trade name give-up" practices for swaps that are anonymously executed on a swap execution facility ("SEF") and are intended to be cleared. The proposed amendments would prohibit a SEF from directly or indirectly, including through a third-party service provider, disclosing the identity of a counterparty to a swap that is executed anonymously and intended to be cleared. The proposed regulation would also require SEFs to establish and enforce rules that prohibit any person from effectuating such a disclosure. The Commission proposed this prohibition on post-trade name give-up after considering the comments received in response to its November 2018 request for public comment regarding the practice. The Commission believes that prohibiting the practice of post-trade name give-up for cleared swaps would promote swaps trading and competition on SEFs, as well as promote fair competition among market participants. Additionally, it would advance the congressional objectives underlying the prohibition against swap data repositories disclosing the identity of cleared swap counterparties. |
|
Agency: Commodity Futures Trading Commission(CFTC) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 17 CFR 37 | |
Legal Authority: 7 U.S.C. 1a 7 U.S.C. 2 7 U.S.C. 5 and 6c 7 U.S.C. 7 7 U.S.C. 7a-2 7 U.S.C. 7b-3 7 U.S.C. 12a |
Legal Deadline:
None |
|||||||||||||||||||||||||||
Timetable:
|
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Alexandros Stamoulis Special Counsel, Division of Market Oversight Commodity Futures Trading Commission 290 Broadway, 6th Floor, New York, NY 10007 Phone:646 746-9792 Email: astamoulis@cftc.gov |