CFTC announces process to establish compliant identifiers

The CFTC is requesting submissions from industry participants who wish to be considered as the source for identifications of swap counter parties and swap data reporting. Under the CFTC’s final swap data recordkeeping and reporting rules, and an identifier must be used in recordkeeping and reporting under CFTC jurisdiction. The Commission anticipates that what is now the CFTC’s Interim Compliant Identifier (CICI) will transition into the global legal entity identifier (LEI).

Industry participants who wish to be considered for designation as the providers of CICIs in compliance with the CFTC may submit to the Commission electronically to Candidates must be prepared to demonstrate that they meet all of the CFTC’s swap data recordkeeping and reporting requirements in an on-sight, live demonstration for Commission staff. The Commission’s designation will have a limited term of two years, with the possibility of termination on six months’ notice if a central utility for the global LEI is chosen and becomes operational. The CFTC’s designation will require the utility to make all CICI data, operations, identity validation processes, and audit trails public.

Upon submission, the CFTC will send requirements for designation and information to submitters.

Read more about the designation process.

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