{"description":"Documents matching 'swap execution facilities cftc final'","count":412,"total_pages":21,"next_page_url":"https://www.federalregister.gov/api/v1/documents?conditions%5Bterm%5D=swap+execution+facilities+cftc+final&format=json&page=2","results":[{"title":"Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions; Withdrawal of Proposed Regulatory Action","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is formally withdrawing a notice of proposed rulemaking published on March 19, 2024, titled \"Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions.\"","document_number":"2025-18070","html_url":"https://www.federalregister.gov/documents/2025/09/18/2025-18070/requirements-for-designated-contract-markets-and-swap-execution-facilities-regarding-governance-and","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-09-18/pdf/2025-18070.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-18070.pdf?1758113114","publication_date":"2025-09-18","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"ACTION: \n Notice of withdrawal of proposed rules. \n \n \n SUMMARY: \n The Commodity Futures Trading Commission (“Commission” or “CFTC”) is formally withdrawing a notice of proposed rulemaking published on March 19, 2024, titled “Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions.” \n \n \n DATES: \n The Commission is withdrawing the proposed rules published at 89 FR 19646 (March 19, 2024) as of September 15, 2025. \n \n \n FOR FURTHER"},{"title":"Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants","type":"Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is adopting a final rule (the \"Final Rule\") amending certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. The Final Rule provides exceptions to compliance with such requirements when executing swaps that are intended by the parties to be cleared contemporaneously with execution, or subject to prime broker arrangements that meet certain qualifying conditions, and makes certain other changes discussed herein. The adopted amendments supersede certain no-action positions issued by the Commission's Market Participants Division (\"MPD\"), which the Commission expects MPD to terminate in due course.","document_number":"2025-23953","html_url":"https://www.federalregister.gov/documents/2025/12/30/2025-23953/revisions-to-business-conduct-and-swap-documentation-requirements-for-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-12-30/pdf/2025-23953.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-23953.pdf?1767015913","publication_date":"2025-12-30","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Credit Default Swaps and Interest Rate Swaps (“CFTC Staff Letter 12-58”); CFTC Staff Letter 13-11 (April 30, 2013), Re: Time Limited Relief for Swap Dealers in Connection with Prime Brokerage Arrangements (“CFTC Staff Letter 13-11”); CFTC Staff Letter 13-12 (May 1, 2013), Re: Relief for Swap Dealers and Major Swap Participants Regarding the Obligation to Provide Certain Disclosures for Certain Transactions Under Regulation 23.431 (“CFTC Staff Letter 13-12”); CFTC Staff Letter 19-06 (March 22, 2019), Re: No-Action Position for Off-SEF Swaps Executed Pursuant"},{"title":"Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0096, Swap Data Recordkeeping and Reporting Requirements","type":"Notice","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is announcing an opportunity for public comment on the proposed renewal of an information collection by the agency. Under the Paperwork Reduction Act (\"PRA\"), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the information collections pertaining to the Commission's swap data recordkeeping and reporting requirements. These rules impose recordkeeping and reporting requirements on the following entities: Swap Dealers (\"SDs\"), Major Swap Participants (\"MSPs\"), Swap Execution Facilities (\"SEFs\"), designated contract markets (\"DCMs\"), swap data repositories (\"SDRs\"), derivatives clearing organizations (\"DCOs\"), and swap counterparties that are neither swap dealers nor major swap participants (\"non-SD/MSP counterparties\").","document_number":"2026-12041","html_url":"https://www.federalregister.gov/documents/2026/06/16/2026-12041/agency-information-collection-activities-notice-of-intent-to-extend-collection-3038-0096-swap-data","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-16/pdf/2026-12041.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-12041.pdf?1781527510","publication_date":"2026-06-16","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"establishes swap reporting and recordkeeping requirements for swap execution facilities (“SEFs”), designated contract markets (“DCMs”), swap data repositories (“SDRs”), derivatives clearing organizations (“DCOs”), swap dealers (“SDs”), major swap participants (“MSPs”), and non-SD/MSP/DCO counterparties (“non-SD/MSP counterparties”). The Commission estimates the burden of the collection of information as set out below.\n \n \n Respondents/Affected Entities: \n Swap Dealers, Major Swap Participants, SEFs, DCMs, DCOs, and other counterparties to a swap transaction"},{"title":"Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is proposing amendments to certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. These amendments would provide exceptions to compliance with such requirements when executing swaps that are: intended by the parties to be cleared contemporaneously with execution; or subject to prime broker arrangements that meet certain qualifying conditions. The proposed amendments would also make certain other changes discussed herein. The proposed amendments, if adopted, would supersede certain no-action positions issued by the Commission's Market Participants Division (\"MPD\").","document_number":"2025-18924","html_url":"https://www.federalregister.gov/documents/2025/09/30/2025-18924/revisions-to-business-conduct-and-swap-documentation-requirements-for-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-09-30/pdf/2025-18924.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-18924.pdf?1759149912","publication_date":"2025-09-30","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Credit Default Swaps and Interest Rate Swaps (“CFTC Staff Letter 12-58”); CFTC Staff Letter 13-11 (April 30, 2013), Re: Time Limited Relief for Swap Dealers in Connection with Prime Brokerage Arrangements (“CFTC Staff Letter 13-11”); CFTC Staff Letter 13-12 (May 1, 2013), Re: Relief for Swap Dealers and Major Swap Participants Regarding the Obligation to Provide Certain Disclosures for Certain Transactions Under Regulation 23.431 (“CFTC Staff Letter 13-12”); CFTC Staff Letter 19-06 (March 22, 2019), Re: No-Action Position for Off-SEF Swaps Executed Pursuant"},{"title":"Swap Confirmation Requirements for Swap Execution Facilities","type":"Rule","abstract":"The Commodity Futures Trading Commission (Commission or CFTC) is amending its swap execution facility (SEF) regulations related to uncleared swap confirmations, and making associated technical and conforming changes.","document_number":"2024-09368","html_url":"https://www.federalregister.gov/documents/2024/05/01/2024-09368/swap-confirmation-requirements-for-swap-execution-facilities","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-05-01/pdf/2024-09368.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-09368.pdf?1714481131","publication_date":"2024-05-01","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"the SEC adopted final rules for security-based swap execution facilities (SB SEFs). \n See \n Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities, 88 FR 87156 (December 15, 2023) (SEC SB SEF Final Rules). As part of the SEC SB SEF Final Rules, the SEC adopted SEC rule 242.812 (SB SEF Rule 812), which was modelled after existing § 37.6 with some modifications. In particular, SB SEF Rule 812 will require an SB SEF to as soon as technologically practicable after the time of execution of a transaction"},{"title":"Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0070: Real-Time Public Reporting and Block Trade","type":"Notice","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is announcing an opportunity for public comments on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act (\"PRA\"), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed renewal of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on the information collections pertaining to the Commission's real-time public reporting and dissemination of swap data and rules for block trade requirements. These rules impose recordkeeping and reporting requirements on the following entities: Swap Dealers (\"SDs\"), Major Swap Participants (\"MSPs\"), Swap Execution Facilities (\"SEFs\"), designated contract markets (\"DCMs\"), swap data repositories (\"SDRs\"), derivatives clearing organizations (\"DCOs\"), and swap counterparties that are neither swap dealers nor major swap participants (\"non-SD/MSP counterparties\").","document_number":"2025-08154","html_url":"https://www.federalregister.gov/documents/2025/05/09/2025-08154/agency-information-collection-activities-notice-of-intent-to-renew-collection-3038-0070-real-time","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-05-09/pdf/2025-08154.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-08154.pdf?1746708320","publication_date":"2025-05-09","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"to the Commission's real-time public reporting and dissemination of swap data and rules for block trade requirements. These rules impose recordkeeping and reporting requirements on the following entities: Swap Dealers (“SDs”), Major Swap Participants (“MSPs”), Swap Execution Facilities (“SEFs”), designated contract markets (“DCMs”), swap data repositories (“SDRs”), derivatives clearing organizations (“DCOs”), and swap counterparties that are neither swap dealers nor major swap participants (“non-SD/MSP counterparties”).\n \n \n \n DATES: \n Comments"},{"title":"Staff Report on the Definitions of “Security-Based Swap Dealer” and “Major Security-Based Swap Participant”","type":"Notice","abstract":"The Securities and Exchange Commission directed staff to prepare and is now publishing a report examining the effect and application of the definitions of \"security-based swap dealer\" and \"major security-based swap participant.\" Those definitions include an exception from designation as a security-based swap dealer for an entity that engages in a de minimis quantity of security-based swap dealing, as well as separate thresholds below which an entity would not become a major security-based swap participant. As provided in the Commission's rules, nine months after publication of this report and after considering any public comments received, the Commission may by order either terminate the phase-in period for the de minimis thresholds, thereby allowing thresholds of $3 billion for credit default swaps that constitute security-based swaps and $150 million for non-credit default swaps that constitute security-based swaps to take effect and replace the current phase-in thresholds of $8 billion and $400 million, respectively, or propose different thresholds through rulemaking; however, the Commission has issued an order providing a temporary exemption that has the effect of continuing to apply the phase-in thresholds of $8 billion and $400 million until May 8, 2028. The public is invited to comment on all aspects of this report, which may inform the Commission's consideration of potential changes to the de minimis exception and the rules further defining the terms \"security-based swap dealer\" and \"major security-based swap participant.\"","document_number":"2026-08558","html_url":"https://www.federalregister.gov/documents/2026/05/04/2026-08558/staff-report-on-the-definitions-of-security-based-swap-dealer-and-major-security-based-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-04/pdf/2026-08558.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-08558.pdf?1777639507","publication_date":"2026-05-04","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"Release, 77 FR 30640, 30698; Rule 3a71-2; Rule 3a71-2A. The CFTC directed its staff to publish a similar, narrower report on the definition of the term “swap dealer” and its de minimis threshold (but not on the definition of the term “major swap participant”). Reporting of swap transactions to CFTC-registered swap data repositories began on December 31, 2012, and CFTC staff published the final version of that report in 2016. \n See \n Staff of the Commodity Futures Trading Commission, Swap Dealer De Minimis Exception Preliminary Report (Nov. 18, 2015)"},{"title":"Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0090: Adaptation of Regulations To Incorporate Swaps-Records of Transactions; Exclusion of Utility Operations Related Swaps With Utility Special Entities From De Minimis Threshold for Swaps With Special Entities","type":"Notice","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is announcing an opportunity for public comment on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act (\"PRA\"), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the recordkeeping obligations set forth in certain provisions of Commission regulations 1.3, 1.31, 1.33, 1.35, 1.37, and 1.39.","document_number":"2026-05720","html_url":"https://www.federalregister.gov/documents/2026/03/24/2026-05720/agency-information-collection-activities-notice-of-intent-to-extend-collection-3038-0090-adaptation","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-03-24/pdf/2026-05720.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-05720.pdf?1774269915","publication_date":"2026-03-24","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Dodd-Frank Act which introduced swap execution facilities (“SEFs”) as a new trading platform for swaps. As a result of the enactment of sections 721 and 733, the Commission needed to amend certain recordkeeping regulations (1.31, 1.33, 1.35, 1.37, and 1.39) so that records of swap transactions are maintained analogously to how futures transactions are maintained.\n \n \n \n 1 \n Adaptation of Regulations to Incorporate Swaps, 77 FR 66288 (Nov. 2, 2012).\n \n \n \n Further, the “Exclusion of Utility Operations-Related Swaps with Utility Special Entities From"},{"title":"Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps to Account for CAD and MXN Interest Rate Benchmark Transitions","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (Commission or CFTC) is proposing to amend its interest rate swap clearing requirement regulations adopted under applicable provisions of the Commodity Exchange Act (CEA) to address the transition from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA), and the transition from the Mexican Interbank Equilibrium Interest Rate (la Tasa de Inter[eacute]s Interbancaria de Equilibrio, or TIIE by its Spanish acronym) to the Overnight TIIE Funding Rate (TIIE de Fondeo or F-TIIE), as benchmark reference rates for interest rate swaps denominated, respectively, in Canadian dollars (CAD) and Mexican pesos (MXN). These transitions are part of an ongoing global effort by market participants, benchmark administrators, regulators, and others to shift away from reliance on certain interbank offered rates (IBORs) that are, or are expected to become, unavailable as benchmark reference rates, and increase adoption of alternative reference rates, which are predominantly overnight, nearly risk-free reference rates (RFRs). The proposed amendments would revise the set of interest rate swaps that are required to be submitted for clearing, pursuant to the CEA and the Commission's regulations, to a derivatives clearing organization (DCO) that is registered under the CEA (registered DCO) or a DCO that has been exempted from such registration (exempt DCO). Among other things, the proposed amendments would modify the Commission's interest rate swap clearing requirement to reflect the market transitions from CAD CDOR to CAD CORRA and from MXN TIIE to MXN F-TIIE.","document_number":"2026-09428","html_url":"https://www.federalregister.gov/documents/2026/05/12/2026-09428/clearing-requirement-determination-under-section-2h-of-the-commodity-exchange-act-for-interest-rate","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-12/pdf/2026-09428.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-09428.pdf?1778503542","publication_date":"2026-05-12","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":" review process whereby the Commission, on an ongoing basis, must review swaps, or a group, category, type, or class of swaps, to determine whether a swap, or a group, category, type, or class of swaps, should be required to be cleared.\n \n \n \n \n 4 \n Section 2(h)(2)(B) of the CEA, 7 U.S.C. 2(h)(2)(B). Section 2(h)(2)(B)(i) requires that each DCO submit to the Commission each swap, or group, category, type, or class of swaps, that it plans to accept for clearing. The swaps subject to this proposed determination were submitted by DCOs pursuant to"},{"title":"Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities","type":"Rule","abstract":"The Securities and Exchange Commission (\"SEC\" or \"Commission\") is adopting a set of rules and forms under the Securities Exchange Act of 1934 (\"SEA\") that would create a regime for the registration and regulation of security-based swap execution facilities (\"SBSEFs\") and address other issues relating to security- based swap (\"SBS\") execution generally. One of the rules being adopted implements an element of the Dodd-Frank Act that is intended to mitigate conflicts of interest at SBSEFs and national securities exchanges that trade SBS (\"SBS exchanges\"). Other rules being adopted address the cross-border application of the SEA's trading venue registration requirements and the trade execution requirement for SBS. In addition, the Commission is amending an existing rule to exempt, from the SEA definition of \"exchange,\" certain registered clearing agencies, as well as registered SBSEFs that provide a market place only for SBS. The Commission is also adopting a new rule that, while affirming that an SBSEF would be a broker under the SEA, exempts a registered SBSEF from certain broker requirements. Further, the Commission is adopting certain new rules and amendments to its Rules of Practice to allow persons who are aggrieved by certain actions by an SBSEF to apply for review by the Commission. Finally, the Commission is delegating new authority to the Director of the Division of Trading and Markets and to the General Counsel to take actions necessary to carry out the rules being adopted.","document_number":"2023-24587","html_url":"https://www.federalregister.gov/documents/2023/12/15/2023-24587/security-based-swap-execution-and-registration-and-regulation-of-security-based-swap-execution","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-12-15/pdf/2023-24587.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-24587.pdf?1702561517","publication_date":"2023-12-15","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"S.C. 78c(a)(74).\n \n \n \n \n 9 \n \n See \n CFTC, Core Principles and Other Requirements for Swap Execution Facilities, 78 FR 33476 (June 4, 2013) (“2013 CFTC Final SEF Rules Release”); CFTC, Process for a Designated Contract Market or Swap Execution Facility To Make a Swap Available to Trade, Swap Transaction Compliance and Implementation Schedule, and Trade Execution Requirement Under the Commodity Exchange Act, 78 FR 33606 (June 4, 2013) (“2013 CFTC Final MAT Rules Release”).\n \n \n \n \n 10 \n In 2018, the CFTC proposed to make fundamental changes to"},{"title":"Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is proposing new rules and amendments to its existing regulations for designated contract markets (\"DCMs\") and swap execution facilities (\"SEFs\") that would establish governance and fitness requirements with respect to market regulation functions, as well as related conflict of interest standards. The proposed new rules and amendments include minimum fitness standards, requirements for identifying, managing, and resolving conflicts of interest, and structural governance requirements to ensure that SEF and DCM governing bodies adequately incorporate an independent perspective. The proposal also address requirements relating to the following: composition requirements for board of directors and disciplinary panels; limitations on the use and disclosure by employees and certain others of material non-public information; requirements relating to Chief Regulatory Officers, Chief Compliance Officers, and Regulatory Oversight Committees; and notification of certain changes in the ownership or corporate or organizational structure of a SEF or DCM.","document_number":"2024-04938","html_url":"https://www.federalregister.gov/documents/2024/03/19/2024-04938/requirements-for-designated-contract-markets-and-swap-execution-facilities-regarding-governance-and","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-03-19/pdf/2024-04938.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-04938.pdf?1710765911","publication_date":"2024-03-19","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Dodd-Frank Act.\n 15 \n \n \n \n \n 15 \n 15 U.S.C. 8302 (Providing that before commencing any rulemaking or issuing an order regarding swaps, swap dealers, major swap participants, swap data repositories, derivative clearing organizations with regard to swaps, persons associated with a swap dealer or major swap participant, eligible contract participants, or swap execution facilities pursuant to the applicable subtitle, the CFTC must consult and coordinate to the extent possible with the SEC and the prudential regulators for the purposes of assuring regulatory"},{"title":"Swap Confirmation Requirements for Swap Execution Facilities","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (Commission or CFTC) is proposing amendments to its swap execution facility (SEF) regulations related to uncleared swap confirmations, as well as associated technical and conforming changes.","document_number":"2023-17747","html_url":"https://www.federalregister.gov/documents/2023/08/25/2023-17747/swap-confirmation-requirements-for-swap-execution-facilities","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-08-25/pdf/2023-17747.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-17747.pdf?1692881116","publication_date":"2023-08-25","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Proposal).\n \n \n \n \n 7 \n \n Id. \n \n \n \n \n 8 \n \n Id. \n at 62096.\n \n \n \n \n 9 \n \n Id. \n at 61973; 62067.\n \n \n \n \n 10 \n The following final rulemakings of the Commission adopted certain portions of the 2018 SEF Proposal: (i) Exemptions From Swap Trade Execution Requirement, 86 FR 8993 (Feb. 11, 2021); and (ii) Swap Execution Facilities, 86 FR 9224 (Feb. 11, 2021).\n \n \n \n \n 11 \n \n See \n Swap Execution Facilities and Trade Execution Requirement, 86 FR 9304 (Feb. 12, 2021). The Commission notes that because the 2018 SEF Proposal was withdrawn, comments on the"},{"title":"Data Reporting Requirements for Certain Event Contracts","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is proposing revisions to the Commission's regulations that would set forth an alternate framework for reporting of data for certain fully collateralized event contracts (the \"Proposal\"). These revisions would require certain reporting markets, futures commission merchants, clearing members, and foreign brokers to report certain event contracts pursuant to the regulations in parts 15 through 18 rather than the reporting regulations contained in certain sections of parts 38, 39, 43 and 45.","document_number":"2026-13239","html_url":"https://www.federalregister.gov/documents/2026/07/01/2026-13239/data-reporting-requirements-for-certain-event-contracts","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-07-01/pdf/2026-13239.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-13239.pdf?1782823511","publication_date":"2026-07-01","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":" Depending on whether the swap is executed on or pursuant to the rules of a swap execution facility (“SEF”) or designated contract market (“DCM”) or is an off-facility swap, the SEF, DCM, swap dealer (“SD”), major swap participant (“MSP”), or a designated reporting counterparty reports swap transaction and pricing data to an SDR as soon as technologically practicable after execution of the swap. Also, reporting counterparties, SDs, MSPs, and derivatives clearing organizations (“DCOs”) report swap continuation, valuation, and collateral data to an"},{"title":"Prediction Markets","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (Commission or CFTC) is issuing this Advance Notice of Proposed Rulemaking and seeking public comment regarding event contract derivatives traded on markets commonly referred to as \"prediction markets.\" In particular, the Commission is seeking information and public comment on statutory core principles and Commission regulations that apply to prediction markets, the types of event contracts that may be prohibited as contrary to the public interest, cost-benefit considerations related to prediction markets, and other topics. The Commission may use the information and comments received from this Notice to inform potential future agency action, such as rulemaking, with respect to prediction markets.","document_number":"2026-05105","html_url":"https://www.federalregister.gov/documents/2026/03/16/2026-05105/prediction-markets","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-03-16/pdf/2026-05105.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-05105.pdf?1773405920","publication_date":"2026-03-16","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"or transactions to the regulatory scheme for swaps and security-based swaps.” \n 71 \n \n Are any event contracts similar to, or different from, the types of agreements, contracts and transactions that are excluded from the swap definition under this interpretation? How are such similarities or differences, if any, relevant to the CFTC's regulation of those event contracts?\n \n \n \n 70 \n Further Definition of “Swap,” “Security-Based Swap,” and “Security-Based Swap Agreement”; Mixed Swaps; Security-Based Swap Agreement Recordkeeping, 77 FR 48208, 48246"},{"title":"Prediction Markets; Public Interest Determinations","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (Commission or CFTC) is proposing amendments to its rules concerning event contract derivatives. The markets for these event contracts are commonly referred to as \"prediction markets.\" In particular, the Commission is proposing amendments to further specify the types of event contracts that may be subject to a determination that they are contrary to the public interest, such that they may not be listed for trading or accepted for clearing on or through a CFTC-registered entity, as provided in the Commodity Exchange Act (CEA). The proposed amendments set out factors the Commission would apply in that determination and conform the process by which the determination would be made to the CEA. The Commission also is proposing amendments to the procedure for the Commission's determination to enhance clarity and organization, as well as a definition of the term \"gaming\" and a rule regarding when event contracts \"involve\" an underlying activity.","document_number":"2026-11854","html_url":"https://www.federalregister.gov/documents/2026/06/12/2026-11854/prediction-markets-public-interest-determinations","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-12/pdf/2026-11854.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-11854.pdf?1781181917","publication_date":"2026-06-12","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Federal Reserve; \n 31 \n \n \n \n \n 31 \n Dodd-Frank Act sec. 712(d)(1), codified at 15 U.S.C. 8302(d)(1) (directing the CFTC and SEC to undertake joint rulemaking on covered topics). \n See \n Further Definition of “Swap,” “Security-Based Swap,” and “Security-Based Swap Agreement”; Mixed Swaps; Security-Based Swap Agreement Recordkeeping, 77 FR 48208 (Aug. 13, 2012).\n \n \n \n • required retail swap transactions (\n i.e., \n transactions not between eligible contract participants) to be entered into on a DCM; \n 32 \n \n \n \n \n 32 \n CEA sec. 2(e), 7 U.S.C. 2(e). The"},{"title":"Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (CFTC or Commission) is proposing to require that futures commission merchants, swap dealers, and major swap participants establish, document, implement, and maintain an Operational Resilience Framework reasonably designed to identify, monitor, manage, and assess risks relating to information and technology security, third-party relationships, and emergencies or other significant disruptions to normal business operations. The framework would include three components--an information and technology security program, a third-party relationship program, and a business continuity and disaster recovery plan--supported by broad requirements relating to governance, training, testing, and recordkeeping. The proposed rule would also require certain notifications to the Commission and customers or counterparties. The Commission is further proposing guidance relating to the management of risks stemming from third-party relationships.","document_number":"2023-28745","html_url":"https://www.federalregister.gov/documents/2024/01/24/2023-28745/operational-resilience-framework-for-futures-commission-merchants-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-01-24/pdf/2023-28745.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-28745.pdf?1706017512","publication_date":"2024-01-24","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"for Swap Dealers, Major Swap Participants, and Futures Commission Merchants, 77 FR 20128 (Apr. 3, 2012) (Final Swap Entities RMP Rule).\n \n \n \n \n 6 \n \n See \n 17 CFR 1.11(c); 17 CFR 23.600(b). The RMP rule for FCMs does not apply to FCMs that do not accept or hold customer assets. \n See \n 17 CFR 1.11(a).\n \n \n \n \n 7 \n \n See \n 17 CFR 1.11(e); 17 CFR 23.600(c).\n \n \n \n \n 8 \n \n See \n Final Swap Entities RMP Rule, 77 FR at 20128; Final FCM RMP Rule, 78 FR 68506.\n \n \n \n \n 9 \n \n See, e.g., \n Regulations Establishing and Governing the Duties of Swap Dealers"},{"title":"Real-Time Public Reporting Requirements and Swap Data Recordkeeping and Reporting Requirements","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (the \"Commission\" or the \"CFTC\") is proposing revisions to part 43 and part 45 of the Commission's regulations to: allow for continued geographic masking after the designation of the unique product identifier and product classification system (\"UPI\") for swaps in the other commodity asset class; implement conforming changes in connection with the geographic masking requirement; add reportable data fields to appendix A to part 43 and appendix 1 to part 45 that promote international harmonization and further the Commission's surveillance and analysis activities; and implement non-substantive revisions to the descriptions of the existing reportable data elements in such appendices.","document_number":"2023-28350","html_url":"https://www.federalregister.gov/documents/2023/12/28/2023-28350/real-time-public-reporting-requirements-and-swap-data-recordkeeping-and-reporting-requirements","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-12-28/pdf/2023-28350.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-28350.pdf?1703684717","publication_date":"2023-12-28","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"real-time public reporting and swap data reporting regulations were first adopted in 2012, and are located in parts 43 and 45 of the Commission's regulations.\n 2 \n \n The 2012 Real-Time Public Reporting of Swap Transaction Data Final Rule (the “2012 RTR Final Rule”) set forth regulations that require swap counterparties, swap execution facilities (“SEFs”), and designated contract markets (“DCMs”) to report publicly reportable swap transactions (“PRST”) to swap data repositories (“SDRs”).\n 3 \n \n Additionally, the 2012 RTR Final Rule set forth regulations"},{"title":"Agency Information Collection Activities Under OMB Review","type":"Notice","abstract":"In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (ICR) abstracted below has been forwarded to the Office of Information and Regulatory Affairs (OIRA), of the Office of Management and Budget (OMB), for review and comment. The ICR describes the nature of the information collection and its expected costs and burden.","document_number":"2026-11681","html_url":"https://www.federalregister.gov/documents/2026/06/11/2026-11681/agency-information-collection-activities-under-omb-review","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-11/pdf/2026-11681.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-11681.pdf?1781095512","publication_date":"2026-06-11","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"obligations imposed by the “Adaptation of Regulations to Incorporate Swaps” final regulations \n 2 \n \n remain necessary to implement section 721 of the Dodd-Frank Act, which amended the definitions of futures commission merchant (“FCM”) and introducing broker (“IB”) to permit these intermediaries to trade swaps on behalf of customers. They also are necessary to implement section 733 of the Dodd-Frank Act which introduced swap execution facilities (“SEFs”) as a new trading platform for swaps. As a result of the enactment of sections 721 and 733, the Commission"},{"title":"Electronic Submission of Certain Materials Under the Securities Exchange Act of 1934; Amendments Regarding the FOCUS Report","type":"Rule","abstract":"The Securities and Exchange Commission (\"Commission\" or \"SEC\") is amending its rules to require electronic filing or submission of certain forms and other filings or submissions that are required to be filed with or submitted to the Commission under the Securities Exchange Act of 1934 (\"Exchange Act\") and the rules and regulations under the Exchange Act. The amendments require the electronic filing or submission on the Commission's Electronic Data Gathering, Analysis, and Retrieval (\"EDGAR\") system, using structured data where appropriate, for certain forms filed or submitted by self- regulatory organizations (\"SROs\"). The amendments require the information currently contained in Form 19b-4(e) to be publicly posted on the SRO's website and remove the manual signature requirements for SRO proposed rule change filings. The Commission is also requiring that a clearing agency post supplemental material to its website. In addition, the Commission is amending rules under the Exchange Act and the Securities Act of 1933 (\"Securities Act\") to require the electronic filing or submission on EDGAR, using structured data where appropriate, of certain forms, reports, and notices provided by broker- dealers, security-based swap dealers, and major security-based swap participants. The amendments also require withdrawal in certain circumstances of notices filed in connection with an exception to counting certain dealing transactions toward determining whether a person is a security-based swap dealer. Finally, the Commission is allowing electronic signatures in certain broker-dealer filings, and amending the Financial and Operational Combined Uniform Single Report (\"FOCUS Report\") to harmonize with other rules, make technical corrections, and provide clarifications.","document_number":"2024-30433","html_url":"https://www.federalregister.gov/documents/2025/01/21/2024-30433/electronic-submission-of-certain-materials-under-the-securities-exchange-act-of-1934-amendments","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-01-21/pdf/2024-30433.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-30433.pdf?1737121512","publication_date":"2025-01-21","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"is consistent with the notices that swap dealers and major swap participants are required to provide to the NFA, which receives notices from Swap Entities pursuant to CFTC Regulation 23.502(c) regarding swap valuation disputes. \n See \n NFA Interpretive Notice 9072 to Compliance Rule 2-49: Swap Valuation Dispute Filing Requirements (May 18, 2017), \n available at https://www.nfa.futures.org/rulebook/rules.aspx?Section=9&RuleID=9072, \n and Effective date of Interpretive Notice to NFA Compliance Rule 2-49: Swap Valuation Dispute Filing Requirements"},{"title":"Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts","type":"Rule","abstract":"The Commodity Futures Trading Commission (the \"Commission\" or \"CFTC\") is issuing this guidance to outline factors for consideration by designated contract markets (\"DCMs\"), when addressing certain provisions of the Commodity Exchange Act (\"CEA\"), and CFTC regulations thereunder, that are relevant to the listing for trading of voluntary carbon credit (\"VCC\") derivative contracts. The Commission recognizes that VCC derivatives are a comparatively new and evolving class of products, and believes that guidance that outlines factors for consideration by a DCM, in connection with the contract design and listing process, may help to advance the standardization of such products in a manner that promotes transparency and liquidity.","document_number":"2024-23105","html_url":"https://www.federalregister.gov/documents/2024/10/15/2024-23105/commission-guidance-regarding-the-listing-of-voluntary-carbon-credit-derivative-contracts","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-10-15/pdf/2024-23105.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-23105.pdf?1728650732","publication_date":"2024-10-15","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"exclusion from the “swap” definition set forth in section 1a(47) of the CEA, 7 U.S.C. 1a(47), if the agreement, contract or transaction is intended to be physically-settled. For further discussion of the Commission's interpretation of whether agreements, contracts, or transactions in environmental commodities fall within the forward exclusion from the swap definition, \n see \n Further Definition of “Swap,” “Security-Based Swap,” and “Security-Based Swap Agreement”; Mixed Swaps; Security-Based Swap Agreement Recordkeeping; Final Rule, 77 FR 48208 (August"}]}