19 July 2018
Visit www.avoka.com

CFTC names DTCC-Swift as LEI provider

24 July 2012  |  2525 views  |  0 Source: Commodity Futures Trading Commission

The Commodity Futures Trading Commission (CFTC) today issued an Order designating DTCC-Swift as the provider of the legal entity identifiers (LEI), which will be used by registered entities and swap counterparties in complying with the CFTC's swap data reporting regulations.

LEIs, to be known as CFTC Interim Compliant Identifiers or CICIs until establishment of a global LEI system, are essential tools for aggregation of derivatives data. They will be crucial to the ability of CFTC and other financial regulators to use swap data to fulfill the systemic risk monitoring and mitigation, market transparency, and market abuse prevention purposes of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The CFTC is also participating in an international process, coordinated by the Financial Stability Board (FSB), to establish governance principles and reference data requirements and implement a global LEI system. Once the global LEI system is implemented and operational, the CFTC anticipates that the interim identifier will transition into the global LEI.

Today's Order, issued pursuant to Part 45 of the Commission's regulations, includes findings of fact by the Commission that the CICI provided by DTCC-SWIFT is the only available identifier that satisfies all requirements of the Commission's swap data reporting rules, and can be provided to market participants sufficiently in advance of the initial compliance date for swap data reporting to enable compliance with the rules. Based on these findings of fact, the Commission's Order designates DTCC-SWIFT as the provider of the CICIs to be used in recordkeeping and swap data reporting pursuant to parts 45 and 46 of the Commission's regulations. This designation is made for a limited term of two years, and is subject to four conditions specified in the Order. 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
10621 views comments | 4 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9845 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9441 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
8773 views 19 comments | 14 tweets | 30 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
8099 views comments | 1 tweets | 5 linkedin

Featured job

Find your next job