Since the US is scheduled for swap data reporting to regulators later this year, submission testing for Dodd-Frank Swap Data Repository (SDR) requirements will begin
The repository will offer a full range of commodities swaps, both physical and financial, and will be ready for Dodd-Frank Act reporting prior to
With the guidance of the commodity market participants, the repository functionality is being phased in over time. The first phase allows participants to create positions in the repository with reports of Snapshots, Primary Economic Terms or Confirmation Data. Companies can maintain positions in the repository either by reporting a daily snapshot of all their OTC commodity positions or by reporting changes to their OTC commodity positions. The second phase will focus on enriching the data, meeting Dodd-Frank specific requirements and expanding the product coverage in conjunction with market participants to ensure a full range of commodity coverage. Initial coverage consists of contracts for natural gas, power, oil, agricultural, emissions, financial freight and weather.
“DTCC is delighted to be working with EFETnet to provide a repository for commodities that will support regulatory reporting requirements for this sector,” said
“The launch of the Commodity Derivatives trade repository by DTCC and EFETnet is another important step forward in improving regulatory transparency in the OTC derivatives markets,” said
Trade reporting for the repository will be provided to regulators through DTCC’s web-based regulatory portal. Currently, the portal is utilized by more than 38 regulators globally.
DTCC, through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC’s depository provides custody and asset servicing for almost 3.7 million securities issues from
EFETnet was established by the
|Copyright:||Copyright Business Wire 2012|
|Source:||Business Wire, Inc.|