CFTC issues proposed rule on cross-border margin

Should the proposed rule be implemented, U.S. covered swap entities would be required to comply with the Commission’s margin rules for all uncleared swaps but would be eligible for substituted compliance with respect to margin that they post (but not that they collect) for swaps with certain non-U.S. counterparties

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CFTC gives another year of leeway for reporting swap data to all firms

With the US having led the regulatory drive toward institutional FX transactions being conducted through swap execution facilities and central counterparties last year, the bureaucracy in implementation continues with the CFTC extending major swap participants’ reporting procedure for another year.

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