The CFTC's latest decision on the swaps reporting rules is unlikely to be the end of the debate, says Galen Stops.
Yesterday the CFTC approved a request from the CME allowing
the exchange group to adopt the controversial Rule 1001, but in
doing so it has highlighted flaws in current regulation
regarding swaps reporting.
Rule 1001 requires that "all swaps cleared by the Clearing
House, and the resulting positions, the Clearing House shall
report creation and continuation data to CME's swap data
As FOW reported in January, the proposal of this rule was a
source of contention between the CME and its data repository
rival the Depository Trust & Clearing Corporation (DTCC),
with the latter arguing that forcing swaps data into the CME
repository eliminated customer choice.
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