Final rule on amendments to swap portfolio reconciliation requirement is approved. The Commodity Futures Trading Commission approved a final rule amending a requirement that swap dealers and major swap participants exchange the terms of swaps with their counterparties for portfolio reconciliation so that swap dealers and major swap participants need only exchange the “material terms” of swaps. This requirement is found in CFTC Regulation 23.500(i). The final rule also amends the definition of “material terms” in CFTC Regulation 23.500(g). (5/2/2016)CFTC press release.
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The Financial Report May 5, 2016 - US Commodity Futures Trading Commission Developments
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