Swap Materials

Overview

CEA Section 4s(i)(1) requires swap dealers to “conform with such standards as may be prescribed by the [CFTC] by rule or regulation that relate to timely and accurate confirmation, processing, netting, documentation, and valuation of all swaps. ” CEA Section 4s(i)(2) requires the CFTC to adopt rules “governing documentation standards for swap dealers . . ." Pursuant to this authority, the CFTC has adopted requirements of both "relationship documentation" and trade documentation (confirmations). In addition, the CFTC Rules establish the required timing of the documentation; e.g., relationship documentation must be established before any trade can be agreed, and confirmations must be sent within prescribed time periods.

Steven.Lofchie@cwt.com's picture
Contributor Organization 
Contributor Title 
Partner
nihal.patel@cwt.com's picture
Contributor Organization 
Contributor Title 
Special Counsel

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CFTC Rules