CFTC (Dodd-Frank) Reporting

The Swap Data reporting rules are the US government's response to the 2007/8 financial crisis and the G20 Pittsburgh agreement that banks and financial firms must report all OTC derivative trading activity so that regulators could monitor systemic risk. The rules are part of the Dodd-Frank Act and overseen by the CFTC and the SEC.

What is CFTC Reporting?

Firms trading OTC derivatives in the US must report details to a registered Swap Data Repository (SDR). The reporting obligations include:

  • Part 43 real-time reporting to provide transparency on pricing to the market
  • Part 45 transaction reporting to allow regulators to monitor for systemic risk.

The Commodities and Futures Commission (CFTC) oversees the reporting which includes all other OTC derivatives for Credit*, Equity*, FX, Interest Rates and Commodities asset classes.

CFTC reporting commenced in 2013 with DTCC, CME and ICE operating SDRs. The CFTC has also implemented a substantial revision of the reporting rules, known as the CFTC ReWrite, and reporting under the new rules commenced in December 2022.

*Certain Credit and Equity transactions fall under SEC reporting rules.

How we can help

Our ReportShield™ quality assurance services give you the ability to demonstrate appropriate controls over your reporting obligations for Parts 43 and 45. We can also conduct cross-regulation testing to ensure consistency with other regimes and provide remediation of reports.

Accuracy Testing

The testing gold standard, providing the maximum level of protection against regulatory challenge. Learn more

Advanced Regulatory Reconciliation

Our end-to-end reconciliation service tests for the completeness of regulatory reporting. Learn more

Control Framework

Together with data quality, a robust control framework is a key expectation of regulators. Learn more

“The CFTC will vigorously pursue swap dealer registrants that fail to meet their reporting obligations and violate CFTC orders. Accurate swap data reporting is essential to fulfilment of the CFTC’s regulatory mandates, including monitoring systemic risk and preventing market abuse. ”

Vincent McGonagle - CFTC Acting Director of Enforcement – CFTC

Is your CFTC reporting accurate and complete?

For a conversation with one of our regulatory specialists, please get in touch.

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