SEC Grants First SBSDR Registration

The SEC approved the registration of Depository Trust and Clearing Corporation Data Repository (U.S.), LLC ("DDR") as the first registered security-based swap data repository ("SBSDR"). DDR intends to function as a registered SBSDR covering equity and debt security credit derivatives transactions.

The SEC set November 8, 2021 as the compliance date under Regulation SBSR ("Regulatory Reporting and Public Dissemination of Security-Based Swap Information"). The compliance date is the first Monday following the later of (1) six months after the date on which the first registered SBSDR that can accept reports in the relevant asset class registers with the SEC, or (2) one month after October 6, 2021 - the registration compliance date for security-based swap dealers.