Federal Register: CFTC Proposes Changes to Swaps Trading Rules

The CFTC proposals requiring swap execution facility ("SEF") registration by certain brokerage entities, including interdealer brokers and the aggregators of single-dealer platforms was published in the Federal Register. Comments must be submitted before February 13, 2019.

As previously covered, domestic broking entities would receive a six-month delay before registration is required and foreign entities would receive two years. In addition, the proposal would codify "footnote 88," and make clear that SEF registration is required regardless of whether swaps on the platform have been made "available to trade."