End-User Exception to the Clearing Requirement for Swaps; Final Rule (CFTC)

The CFTC is adopting final regulations to implement the exception to the clearing requirement available to swap counterparties meeting certain conditions under Section 2(h)(7) of the Commodity Exchange Act, as amended by the Dodd-Frank Act. (There is attached the Federal Register version of the rule.) Firms that are implementing Title VII compliance procedures should update them to take account of the final version of the clearing exception.

Effective Date: September 17, 2012 (Note that the effective date will not be meaningful but will depend on when other rules and requirements come into effect.)

View rule release in full here(links externally to CFTC website).