by Nick Paraskeva on August 2, 2012
CFTC First Swap Clearing and Phase-in Dates
On Jul. 24, the CFTC proposed its first determinations for swaps requiring mandatory clearing, and issued rules to phase-in compliance requirements and the on the use of Legal Entity Identifiers (LEIs).
•Requires certain credit default swaps (CDS) and interest rate swaps (IRS) to be centrally cleared.
•By registered derivative clearing organization (DCO), for swaps that they are already clearing.
•Standard IRS in US dollars, euros, pounds and yen, and specific CDS based on corporate index
Based in New York City, Reg-Room, LLC, provides regulatory information services, monitoring and consultancy to the financial services industry in the US and internationally.Nick Paraskeva is the principal and founder of Reg-Room. Nick has twenty five years experience in Compliance and Regulation, including eleven years at Citigroup, where he was senior Vice president of Global Regulatory Risk in New York. Nick can be reached at Nick.Paraskeva@reg-room.com.
Want a daily digest of articles like this one, plus the latest compliance jobs at top-tier organizations? Join 40,000 other compliance, risk governance, and regulatory professionals and subscribe to our free afternoon newsletter. Where do you find news, style, and career all in one place? The Executive Gateway, our new lifestyle magazine.