CFTC Extending Period for Accepting Public Comment on a CME Request to Adopt New Chapter 10 and New Rule 1001 of CME’s Rulebook

The CFTC is extending the time period for which it is accepting public comment on a request from the Chicago Mercantile Exchange Inc. (“CME”) for approval of Rule 1001, which requires market participants clearing through the CME to send their trade data to the CME's captive SDR. On December 14, 2012, CME amended its filing to provide market participants with the option to designate an additional SDR. The new rule, as amended, would provide that: “For all swaps cleared by the Clearing House, and resulting positions, the Clearing House shall report creation and continuation data to CME's swap data repository for purposes of complying with applicable CFTC rules governing the regulatory reporting of swaps. Upon the request of a counterparty to a swap cleared at the Clearing House, the Clearing House shall provide the same creation and continuation data to a swap data repository selected by the counterparty as the Clearing House provided to CME's swap data repository under the preceding sentence.#8221;

Comments Due: January 14, 2013.

View Press Release in full here (links externally to CFTC website).Related news stories: CFTC Accepting Public Comment on an Amended Request from the CME to Adopt New Chapter 10 ("Regulatory Reporting of Swap Data") and New Rule 1001 ("Regulatory Reporting of Swap Data") of CME's Rulebook; SIFMA Submits Comments to the CFTC on the CME's Swap Data Repository Rulebook.