Swap Transaction Compliance and Implementation Schedule: Clearing and Trade Execution Requirements under Section 2(h) of the CEA (Proposed Rule)

76 FR 58186

The CFTC is proposing regulations that would establish a schedule to phase in compliance with previously proposed requirements, including the clearing and trade execution requirements under new section 2(h) of the CEA. The CFTC proposes to phase in market participants based on the type of market participant entering into the swaps subject to the clearing or trade execution requirement. The triggering event for the proposed compliance schedule for the clearing requirement would be the Commission's issuance of mandatory clearing determination. The proposed compliance schedules for the trade execution requirement would be triggered upon the later of (1) the applicable deadline established under the compliance schedule for the associated clearing mandate; or (2) 30 days after the swap is made available for trading on either a SEF or DCM.

Cross References: Dodd-Frank Act Section 723(a)(3); new CEA Section 2(h); 17 CFR Parts 37, 38, and 39