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Commentary by Bob Zwirb

The CFTC voted unanimously to amend regulations to provide additional clarity to swap counterparties and registered entities regarding their reporting obligations for cleared swap transactions. The proposed amendments would also "improve the efficiency of data collection and maintenance associated with the reporting of the swaps." The proposed amendments would modify Part 45 of the CFTC's regulations, which implements the requirements of Section 21 of the Commodity Exchange Act. The CFTC stated that the proposed rules would: Clarify which entity has the obligation to choose the swap data

The CFTC has issued this FAQ document to respond to questions from market participants and other interested parties on the reporting of cleared swaps as required under CFTC Rules Part 45 ("Swap Data Recordkeeping and Reporting Requirements"). This document is intended to help market participants better understand how to report cleared swaps, who has the obligation to report and the timing of reporting. Cross-Reference(s) : Dodd-Frank Section 728 (Swap data repositories). View FAQ here(links externally to CFTC website). See also : Yesterday's news link to an FAQ on the start of swap data