Swap clients want longer trade reporting times
News Article
February 8, 2011
Regulators' plans to require the public reporting of large swap transactions 15 minutes after they are traded have been criticised by big derivatives markets participants including Pimco, Blackrock and Freddie Mac. The CFTC proposed last year that large swap trades and so-called 'block trades' be reported within 15 minutes, a dramatic departure from the current market practice, where trading is done privately and details are not made public.
Many in the derivatives industry are unhappy with the short reporting period, and such concerns dominated the comments filed on the CFTC website, the deadline for which ended on Monday.
Cross References
Dodd-Frank Act, Title VII, Sec. 727; new CEA Sec. 2(a)(13); 17 CFR Part 43