CFTC Hosts Public Roundtable on Trade Execution Requirement and Package Transactions (with Delta Strategy Group Summary)

The CFTC Division of Market Oversight ("DMO") hosted a public roundtable regarding the trade execution requirement as applied to "package transactions." The roundtable topics included the definition of package transactions, the clearing and execution challenges posed by package transactions that distinguish them from standalone swaps subject to the trade execution requirement, and potential solutions for trading package transactions on or pursuant to the rules of a Designated Contract Market ("DCM") or Swap Execution Facility ("SEF"). The trading mandate for certain made-available-to trade ("MAT") swaps goes into effect on February 15. On February 10, the CFTC announced several actions in advance of the trading mandate, including no-action relief for package transactions until May 15.

Click here to view the summary prepared by Delta Strategy Group.See also: Meeting Agenda.Related news: CFTC Publishes Guidance, No-Action Letter and Interim Final Rule to Promote Trading on SEFs and Support an Orderly Transition to Mandatory Trading (CFTC Letter 14-12) (February 10, 2014).