The Commodity Futures Trading Commission has approved draft rules that would require market participants to report swap transactions in “real time”, while block trades of standardised swaps executed at an exchange would need to be reported within 15 minutes of being executed.
The agency is still working on deciding how quickly market participants will have to report customised swaps.
A few hours after the CFTC unveiled its rules on Friday November 19, the Securities and Exchange Commission published its first draft rule on trading security-based swaps.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in July, gave the two US watchdogs the power to regulate the trillion dollar over-the-counter derivatives market for the first time.
The CFTC had already said...