The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) has further extended no-action relief from the valuation data reporting requirements for cleared swaps under CFTC Regulation 45.4(b)(2)(ii). Specifically, swap dealers (SDs) and major swap participants (MSPs) that are reporting counterparties to a cleared swap are not required to report valuation data to the relevant swap data repository.
However, derivatives clearing organizations must continue to report daily valuation data for those cleared swaps in accordance with CFTC Regulation 45.4(b)(2)(i).
This no-action relief, which is set to expire on June 30, 2016, is a continuation of relief that initially was granted in December 2012. DMO indicated that it was extending this relief pending “a more permanent resolution for issues related to valuation data reporting.”
CFTC Letter No. 15-38 is available here.