On September 8, 2016, the CFTC approved a final rule instituting system safeguards testing requirements for designated contract markets, swap execution facilities, swap data repositories and derivatives clearing organizations. In addition, the CFTC also issued a comparability determination for certain of Japan’s margin requirements for uncleared swaps. The CFTC’s determination would permit substituted compliance with Japan’s uncleared swap margin rules in place of the uncleared swap margin provisions of Title VII of the Dodd-Frank Act.

The full text of the CFTC final rule on system safeguards testing requirements is available at: http://www.cftc.gov/idc/groups/public/@newsroom/documents/file/federalregister090816b.pdf and the full text of the CFTC comparability determination is available at: