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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:
Action Date FR Cite
Request for Comment  11/30/2018  83 FR 61571   
Request for Comment Period End  01/29/2019 
Request for Comment Period Extended  02/12/2019  84 FR 3350   
Request for Comment Period Extended End  03/15/2019 
NPRM  12/31/2019  84 FR 72262   
NPRM Comment Period End  03/02/2020 
Final Rule  07/00/2020 
Final Rule Effective  09/00/2020 
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