The Secretary had closed the comment period on June 6, 2011 on the Proposed Determination 76 FR 25774 (May 5, 2011) http://www.gpo.gov/fdsys/pkg/FR-2011-05-05/pdf/2011-10927.pdf and unclear as to when the final determination will made. As this continues, the last sale information of trades will forex sdr be reported to and disseminated to the public from Swap Data Repositories, and re-posted in aggregated reports from the CFTC, as well as facilitated through 3rd party service providers of post-trade reporting solutions. With the new Swap Data Repositories underway, a once opaque market has now become more disclosed with prices recorded to a centralized tape for a reported $600 trillion market. The CFTC Swaps Report currently incorporates data from three SDRs (CME Group SDR, DTCC Data Repository, and ICE Trade Vault) but noted that additional SDRs could be incorporated in the future, such as data from the newly approved BDSR LLC from Bloomberg.
They also are given to IMF member countries in exchange for their "quotas," their up-front payments to the IMF to finance its operation. So certainly this will add reporting and compliance costs for Swap Dealers, who may then pass these costs on to the market. A plethora of no-action letters related to interpretations and the ever-changing content within the context of the regulation of swaps, has been pumped out from the CFTC's press office – and is reflective of the administrative burden resting upon both the agency and its member firms which must comply with the complex and seemingly dynamic standards.
No comments:
Post a Comment