Market participants cheer CFTC swap reporting fixes
Clarification on cleared swaps raises hopes of action on uncleared trades
A new proposal from the US Commodity Futures Trading Commission (CFTC) is being hailed as a helpful – if long overdue – fix to the agency's trade reporting rule for cleared swaps.
"This will make the requirements for the counterparties much more streamlined and much clearer," says Michael Prokop, a Houston-based director in Deloitte's energy regulatory and risk practice.
The 166-page proposal, which was unanimously approved by all four commissioners on August 19 and is set to be put forward for
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