CFTC Issues Proposed Swaps Report for Public Comment (with Lofchie Comment)

The CFTC issued for public comment a proposed form of a Swaps Report that is intended to offer the public a comprehensive view of the size, risks and activities in the swaps market. The proposal for this new market transparency initiative grew out of the Dodd-Frank swaps market reforms.

The CFTC stated that, while Dodd-Frank only requires the Commission to publish a report on swaps market trading, clearing, participants, and products on a semiannual and annual basis, the agency elected to publish this information on a weekly basis in order to afford market participants and the public "a more thorough understanding of risks and developments in the swaps market."

Comments: The Commission will accept comments on the proposed version of the CFTC Swaps Report for a period of 30 days, beginning November 14, 2012. Comments on the proposed version of the CFTC Swaps Report should be submitted to [email protected].

Lofchie Comment: Persons who think that they might be interested in the report should review the description of its proposed contents to see whether the information it contains looks as if it might be useful. One interesting "footnote": the CFTC is not going to include FX information in the report "until such time as the regulatory jurisdiction of FX products is determined."

Click hereto view Proposed Swaps Report (links externally to CFTC website). See also: CFTC Press Release.