Shearman And Sterling

balance scale

Jun 08, 2016

CFTC Approves Final Rule on Amendments to Swap Portfolio Reconciliation Requirement

Subscribe

Jump to...

 

On May 2 2016 the US Commodity Futures Trading Commission (CFTC) approved a final rule to amend a requirement in CFTC Regulation 23.500(i) that swap dealers and major swap participants exchange the terms of swaps with their counterparties for portfolio reconciliation.

Swap dealers and major swap participants need only exchange the material terms of swaps; the final rule also amends the definition of 'material terms' in CFTC Regulation 23.500(g).

The final rule benefits swap dealers, major swap participants and their counterparties by allowing them to focus on reconciling data fields that affect swap valuation and counterparty obligations, without impairing the CFTC's ability to oversee and regulate the swaps markets.

View Full Article, CFTC Approves Final Rule on Amendments to Swap Portfolio Reconciliation Requirement

Authors and Contributors

Donna Parisi

Partner

Derivatives & Structured Products

+1 212 848 7367

+1 212 848 7367

New York

Geoffrey Goldman

Partner

Derivatives & Structured Products

+1 212 848 4867

+1 212 848 4867

New York

Azam Aziz

Partner

Derivatives & Structured Products

+1 212 848 8154

+1 212 848 8154

New York