CFTC 30-Minute Rule Likely to Change Desk Operations

Strapline: Regulation & Standards


The identification of swap counterparties to be instituted in the US by the Commodity Futures Trading Commission (CFTC) starting July 16 includes a 30-minute deadline for reporting these identifications that will affect compliance in transactions involving countries furthest from the US, observes Tony Freeman, director of industry relations at Omgeo.

The time deadline under the CFTC rule applies to swaps above the minimum notional block size for their category. "If your client is in Australia, i