On October 17, 2014, the US Securities and Exchange Commission (“SEC”) published analyses of data on the reporting and dissemination of security-based swap transaction information. The analyses, performed by the staff in the SEC’s Divisions of Economic and Risk Analysis and the SEC’s Division of Trading and Markets, examine: (i) the effect of the CFTC’s mandated post-trade transparency in the index credit default swaps (“CDS”) market on total credit exposure, trading volume, and trade size in the index CDS market; and (ii) recent single-name CDS transactions, and if and how dealers may hedge any large notional exposures that result from executing trades with their customers.

The SEC analysis of post-trade transparency is available at: