The Commodity Futures Trading Commission (CFTC) has approved the application of ICE Trade Vault as a swap data repository.
ICE Trade Vault is provisionally registered as a swap data repository for the interest rate, credit, foreign exchange and other commodity asset classes.
The swap data repository, a designation created by the Dodd-Frank Act, is the first of its kind. It is registered under Section 21 of the Commodity Exchange Act and Section 49.3(b).
It will be required, as all future swap data repositories will, to demonstrate continued compliance with existing regulations and to come into compliance with new regulations, amendments, guidance and other requests in accordance with the dates established therein in order to obtain and maintain permanent registration, the CFTC writes on its Web site.
The Securities and Exchange Commission approved the new guidelines for swap clearings yesterday.
(OS)