Core Principles and Other Requirements for Swap Execution Facilities (Final Rule; Fed. Reg. Version)

The CFTC is adopting new rules, guidance, and acceptable practices for swap execution facilities.The final rules, guidance, and acceptable practices, which apply to the registration and operation of a new type of regulated entity named a swap execution facility (‘‘SEF’’), implement the Dodd-Frank Act’s new statutory framework that, among other requirements, adds a new Section 5h to the Commodity Exchange Act concerning the registration and operation of SEFs, and adds a new Section 2(h)(8) concerning the execution of swaps on SEFs.

Effective Dates: August 5, 2013, with the exception of Rule 37.3(b)(5) (17 CFR 37.3(b)(5)), which shall become effective August 5, 2015.

See: 78 FR 33476.See also:CFTC Publishes Text of SEF Rules (with Lofchie Comments); CFTC Adopts Rules Regarding SEFs; Commissioner O'Malia's Dissenting Statement on the CFTC's Adoption of the Process for a Designated Contract Market or Swap Execution Facility to Make a Swap Available to Trade under Section 2(h)(8) of the Commodity Exchange Act