On July 19th, the CFTC adopted, in accordance with the Dodd-Frank Act, new final rules establishing procedures for: (i) determining the eligibility of a derivatives clearing organization ("DCO") to clear swaps; (ii) the submission of swaps by a DCO to the Commission for a mandatory clearing determination; (iii) CFTC initiated reviews of swaps; and (4) staying a clearing requirement. The rules are effective 60 days after publication in the Federal Register, which is expected during the week of July 25.