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January 9, 2013

REGULATORY ACTIVITY

EXCHANGES AND MARKET REGULATION-CFTC Grants Comment Period Extension for Proposed CME Swap Data Rule

By Amanda Maine, J.D.

The CFTC granted the Chicago Mercantile Exchange (CME) an extension of the time period for public comment on its request for approval of Rule 1001. The new rule, which CME originally filed on November 9, 2012, would provide the following: "For all swaps cleared by the Clearing House, and resulting positions, the Clearing House shall report available creation and continuation data to CME's swap data repository for purposes of complying with applicable CFTC rules governing the regulatory reporting of swaps. Upon the request of a counterparty to a swap cleared at the Clearing House, the Clearing House shall provide the same creation and continuation data to a swap data repository selected by the counterparty as the Clearing House provided to CME's swap data repository under the preceding sentence."

In its initial filing, CME indicated that Rule 1001 may have some bearing on core reporting and recordkeeping principles as set forth in the Commodity Exchange Act. The CFTC approved CME's request for the extension, noting that comments regarding the proposed new rule should be submitted on or before January 14, 2013.

RegulatoryActivity: CommodityFutures ExchangesMarketRegulation

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