Process for a Designated Contract Market or Swap Execution Facility to Make a Swap Available to Trade under Section 2(11)(8) of the Commodity Exchange Act (Proposed Rule)

76 FR XXXX

The CFTC is proposing rules that would establish a process for Designated Contract Markets and Swap Execution Facilities to make a swap "available to trade" as set forth in Section 2(h)(8) of the CEA pursuant to Section 723 of the Dodd-Frank Act. The proposed rules provide that DCMs and SEFs make the determination of when a swap has been made available to trade by considering seven enumerated factors, or any other factor that the DCM or SEF may view as relevant. The rules provide that the DCM or SEF may either certify the determination or seek approval under the Commission's part 40 rules.

Under the proposed regulations, if a DCM or SEF makes a swap available to trade, all other DCMs and SEFs listing or offering for trading such swap and/or any economically equivalent swap, must make those swaps available to trade for purposes of the trade execution requirement set forth in Section 2(h)(8) of the CEA.

Cross References: Dodd-Frank Section 723; CEA Sec. 2(h)(8); 17 CFR 37 38.