The CFTC recently issued a release that may be of interest to you. Derivatives clearing organizations (DCOs) are required under the Commodity Exchange Act to file certain information with the CFTC when they list new categories of swaps for clearing. That information is intended to provide a basis on which the CFTC may determine whether to propose to mandate clearing for those swaps. Over the past few years, a number of these swaps submissions have been made by the DCOs. The DCOs have made 34 submissions so far, which include certain interest rate swaps, credit default swaps, FX NDFs, energy swaps, agricultural swaps and inflation swaps. To date, the CFTC has simply been sitting on those submissions. However, on June 23 the CFTC issued a blanket request for public comment on all of these DCO swaps submissions. The CFTC is not currently proposing to mandate clearing for any of the swaps that are the subject of the DCO submissions, however, the CFTC will take public comments into consideration in determining whether to propose one or more clearing mandates in the future. Comments must be submitted by July 25, 2016. For reference, here is a link to the CFTC’s press release on this topic: http://www.cftc.gov/PressRoom/PressReleases/pr7396-16.
30 June 2016