The CFTC’s Division of Market Oversight this week granted no-action relief from certain requirements applicable to swap dealers and major swap participants regarding the reporting of swap transactions to swap data repositories. The no-action relief, issues June 30, 2014, extends previous no-action relief regarding the reporting of valuation data reporting of cleared swaps.Read More
Gary Gensler, Chairman of the CFTC, told members of the Senate Appropriations committee that the CFTC would let the extension expire and continue reformation. He also mentioned that swap participants, including big banks, would comply with the regulations. An exemption from cross-border swap regulation is set to expire on June 12th, meaning firms participating in swaps would have to finalize compliance by that date.
European Union (EU) delegates are unable to settle a dispute between Germany and the U.K. regarding derivatives-clearing competition, requiring the discussion to begin again on draft legislation.
Swaps clearing deadline nears, as close to 250 to 300 U.S. investment managers are required to begin clearing swaps transactions by June 10th.
The Commodity Futures Trading Commission (CFTC) announced today their plan to finalize regulations to clarify rules concerning persons associated with swap dealers.
The CFTC has adopted a rule that exempts interaffiliate trades from the Dodd-Frank Act requirements for clearing.
The CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued a time-limited no-action relief for swap dealers and major swap participants.
Oil industry companies have largely managed to avoid the scrutiny of derivatives trading and registration as swap dealers, according to Reuters.
A newly created industry initiative backed by banks, has been launched with the hope to standardize administrative messages on swap execution facilities (SEFs).
LCH.Clearnet Ltd., one of the world’s largest interest-rate swap clearinghouse, cited a “major” information technology failure on December 31st of last year. The IT failure affected payment processing in the U.K. and interrupted contingency plans, Reuters and the Bank of England reports.