CFTC Legal Entity Identifier Monopoly Granted to DTCC-SWIFT (CFTC - Fed. Reg. Version)

The CFTC had previously issued an order designating DTCC–SWIFT as the provider of the legal entity identifiers (LEIs), which must be used by entities entering into swaps in compliance with the CFTC’s swap data reporting regulations. This Order includes findings of fact by the CFTC that DTCC–SWIFT is the only available identifier which satisfies all requirements of its swap data reporting rules and which provides an LEI that can be made available to market participants sufficiently in advance of the initial compliance date for swap data reporting to enable compliance with the rules. The designation is made for a limited term of two years and is subject to four conditions specified in the Order.

One of the conditions of the rule is that the LEI produced by DTCC-SWIFT is to be called a "CFTC Interim Compliance Identifier" (CICI) until a global LEI system is established. The CICI will then transition into the global LEI.

Cross-Reference(s): Commodity Exchange Act Sec. 21(b) and Dodd-Frank Act Sec. 728 - Swap Data Repositories; CFTC Rule 45.6 (Legal Entity Identifiers).

View Order in full here (links externally to GPO website).