CFTC Sets Comment Deadline for Proposed Amendments to SEF Transaction Confirmation Rule
The CFTC set a comment deadline of October 24, 2023 for proposed amendments to rules governing confirmation of transactions on swap execution facilities ("SEFs"). The proposal was published in the Federal Register.
As previously covered, the proposal would (i) codify no-action relief originally granted in CFTC Letter No. 17-17, (ii) amend CFTC Rule 37.6 ("Enforceability") and (iii) implement a conforming change to Rule 23.501 ("Swap Confirmation"). The proposal would address technological and practical issues with obtaining copies of relationship documentation between persons executing swaps on a SEF.
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