In a speech before SEFCON VI—the annual gathering of swap execution facilities—last week, Timothy Massad, Chairman of the Commodity Futures Trading Commission, said he supports amendments to CFTC rules to give the Commission a greater role in “made available to trade” determinations related to swaps. Under CFTC rules, a swap execution facility or a designated contract market, not the CFTC, can mostly control when a swap is subject to a mandatory on-exchange trading obligation. However, according to Mr. Massad, no proposal is likely before spring 2016.