- The Commodity Futures Trading Commission (CFTC) issued a temporary relief from certain reporting requirements under the CFTC’s new regulations on large trader reporting of physical commodity swaps and swaptions. The initial reports under the new regulations were scheduled to be submitted starting on September 20, 2011. The temporary relief was provided “until November 21, 2011, for cleared swaps, and January 20, 2012, for uncleared swaps.” Last month, the Futures Industry Association (FIA) asked the CFTC for a transition period during which the range of data required to be reported by large traders will initially be limited. According to FIA, the required data that is currently not covered by existing reporting systems of large traders includes: “name of the counterparty whose position is being reported,” information as to whether a swap is cleared or uncleared, “commodity reference price,” “execution facility indicator,” long and short “non-delta-adjusted paired swaption positions,” long and short “paired swap or swaption notional value,” and some other data. The CFTC’s press release is available by clickinghere; the FIA letter to CFTC is available by clicking here.
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