The CFTC unanimously approved a final rule that amends "certain reporting and information regulations applicable to derivatives clearing organizations."
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In a 3-2 vote, the CFTC adopted a final rule that applies federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
The CFTC approved proposed changes that would remove indemnification requirements for the use of swap data by other regulators. In addition, the CFTC approved a proposal that would integrate existing advisory guidance as to rules related to the registration and review of exchange disciplinary actions.
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.
CFTC Chair J. Christopher Giancarlo and Chief Economist Bruce Tuckman argued that the time has come for global swaps market reform.