CFTC Amends Technical Specification for Swaps Reporting

The CFTC amended its Technical Specification for swap data reporting and public dissemination requirements under Parts 43 ("Real-Time Public Reporting") and 45 ("Swap Data Recordkeeping and Reporting Requirements") of the CFTC Rules.

The Technical Specification is comprised of "definitions, formats, and allowable values for data elements that are to be reported to swap data repositories." The CFTC indicated that the modifications in the latest update (see redline of changes) include (i) implementing UPI for credit, equity, foreign exchange and interest rate asset classes to align reporting requirements with international standards (as previously covered) and (ii) providing clarity as to compliance obligations.