On November 28th, the CFTC issued rules requiring certain credit default swaps and interest rate swaps to be cleared by registered derivatives clearing organizations. The rules establish the first clearing determination by the CFTC. The rules require market participants to submit certain swaps for central clearing as soon as technologically practicable and no later than the end of the day of execution. The rules will be effective upon publication in the Federal Register. CFTC Press Release; CFTC Q&A.