CFTC Announces the Start of Mandatory Clearing

On March 11, the CFTC announced that swap dealers, major swap participants, and private funds active in the swaps market are required to begin clearing certain index credit default swaps and interest rate swaps that they entered into on or after March 11.  The clearing requirement applies to newly executed swaps and changes in the ownership of a swap.  CFTC Release.  

 

CFTC Reminds Market Participants of Swap Data Reporting Requirements

On March 8, the CFTC issued an Advisory reminding market participants that swap dealers were required to begin reporting data regarding equity, foreign exchange, and other commodity swaps, under Parts 43 and 45 of the CFTC's regulations, on February 28.  Swap dealers must be in compliance with their reporting obligations with respect to historical swaps in these three asset classes by March 30.  CFTC Release.