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The CFTC's Division of Market Oversight issued an advisory to reporting markets subject to CFTC Part 16 Rules that provides guidance as to how block trade volume data should be reported, pursuant to Rule 16.01 ("Trading volume, open contracts, prices, and critical dates") while the CFTC transitions to an enhanced data reporting standard. See: CFTC Letter 13-15 (links externally to CFTC website).

The CFTC proposed excluding certain data fields from the definition of material terms under CFTC Rule 23.500(g) (Swap Documentation Definitions). The proposed rule generally would codify relief granted previously by CFTC staff in their Letter No. 13-31, subject to certain modifications, and allow firms to exclude certain information reported under CFR Part 45 (Swap Data Recordkeeping and Reporting Requirements) for purposes of portfolio reconciliations under CFTC Rule 23.502 (Portfolio Reconciliation). The CFTC proposed to exclude the following data fields from the definition of material terms

The CFTC Division of Market Oversight issued a conditional, time-limited extension of relief provided previously to members of ISDA concerning the masking of certain identifying information that must be reported by swap reporting parties under CFTC regulations. This extension is intended to address circumstances in which statutory or regulatory prohibitions, including the privacy laws of non-U.S. jurisdictions, may prevent reporting to trade repositories.

Commentary by Bob Zwirb

CFTC Chair Timothy G. Massad cited financial resilience to "demonstrate the reforms we put into place are working." In a speech at the Fifth Annual Conference of the Office of Financial Research-Financial Stability Oversight Council, Chair Massad covered clearinghouse resiliency and swap data reporting and looked ahead at the CFTC agenda relating to emerging risk.

Commentary by Steven Lofchie

The CFTC approved revisions to regulations that (i) delineate the swap data reporting requirements associated with each of the swaps involved in a cleared swap transaction and (ii) allow the entity submitting the first report on a cleared swap transaction solely to choose the swap data repository for each such swap.