NFA starts registration drive
The National Futures Association has begun accepting registration applications from swap dealers and major swap participants.
The Commodity Futures Trading Commission has called for all swaps dealers (SDs) and major swap participants (MSPs) to be registered with the commission and become members of a registered futures association.
Applying for registration will not be mandatory until the CFTC finalises its rules defining SDs, MSPs and swaps and they become effective. The SDs and MSPs applying for registration will be granted provisional registration while the CFTC continues the process of finalising rules defining compliance requirements under section 4s of the Commodity Exchange Act.
"Over the years, NFA has developed a comprehensive electronic online registration system," said NFA president Dan Roth, "and during the past few months we have enhanced...