Commentary – The evolution of the CFTC’s approach to swap reporting

FIA MarketVoice CFTC AM & TH

Following the announcement of the delay to the CFTC ReWrite go live date, Kaizen’s subject matter experts Alan McIntyre and Tim Hartley share their insights on the development of new reporting standards in the US in a recent commentary written for FIA’s MarketVoice.

The recent announcement by the US Commodity Futures Trading Commission to delay the implementation of its ‘ReWrite’ of the OTC swap derivative reporting rules until 5 December 2022 will see many swap dealers and swap participants breathing a sigh of relief.

The CFTC ReWrite has been a long time in the making and sees the US regulator undertaking a complete revision of the reporting rules including newly defined fields, different message types and revised reporting timelines. While the new rules reflect many practical suggestions made by the industry during years of dialogue with the CFTC, it will take much time and effort to bring reporting systems into compliance.

Read the full article on the FIA’s website.