Federal Register: CFTC Officially Delays Changing Swap Dealer De Minimis Threshold

The CFTC Order officially delaying the transition date for the swap dealer de minimis threshold (CFTC Rule 1.3(ggg)(4)) until December 31, 2019 was published in the Federal Register.

The de minimis threshold was scheduled to transition from $8 billion to $3 billion at the end of 2018 (delayed from the original scheduled transition at the end of 2017). The CFTC explained that the new date was established in order to (i) allow more time for the analysis of swap data, (ii) remove uncertainty for firms that may be subject to registration in accordance with a new threshold, and (iii) give the new Commissioners (Rostin Behnam and Brian Quintenz) time to familiarize themselves with issues relevant to the threshold.