CFTC, SEC to Tackle Swap Data Collection and Reporting
September 8, 2010
The Commodity Futures Trading Commission and the Securities and Exchange Commission will start working on the mechanics of setting up standardized swaps markets next week.
The two federal regulators said they will hold a public roundtable September 14 to begin to determine the best ways to implement registration of companies in a swap data repository, methods of reporting data, the responsibilities of different participants, how to carry out "real time public reporting" and "the effect of transparency on liquidity of block trades and large transaction sizes."
Among issues to be discussd are under what circumstances the data repositories will be expected to confirm trades; what types of data will need to be reported by the repositories, derivatives clearing organizations, designated contract markets, swap execution facilities, swap dealers and major swap participants; ensuring the anonymity of market participants; what will constitute "real time" reporting; and the feasibility of establishing a consolidated ticker for swaps and securities-based swap.
The roundtable is a first step in the agencies' efforts to establish rules that carry out relevant provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The roundtable will be held in the lobby level hearing room at the CFTC’s headquarters, 3 Lafayette Centre, 1155 21st Street, NW, Washington, DC.
Sessions will begin at 8:30 a.m.
