CFTC Registers First Swap Data Repository

The CFTC announced yesterday that it has granted provisional registration to ICE Trade Vault LLC, making it the first entity to register with the agency as a Swap Data Repository (SDR).

ICE Trade Vault, a unit of Intercontinental Exchange Inc. (ICE), will collect information on energy, interest-rate, credit and other swaps.

The SDR registration category is the result of Dodd-Frank Act provisions that call for entities that will collect and make publicly available swap trading data in order to make the historically opaque market more transparent.

“It’s a significant building block toward transparency in these once-dark markets,” CFTC Chairman Gary Gensler said. “We have, I think, five applications in front of us right now and we anticipate one or two more. But this first one on rates, credit and energy will facilitate market participants to comply with the already finished transparency initiatives.”

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Photo credit: Anonymous


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