Topic
Swaps
164 published works
Corporate & Financial Weekly Digest
CFTC Grants DCO Registration to LedgerX
By Gary DeWaal, James M. Brady
The Commodity Futures Trading Commission has issued an order granting LedgerX LLC registration as a derivatives clearing organization (DCO). As specified in the order, LedgerX is permitted to clear fully…
Corporate & Financial Weekly Digest
CFTC Staff Provides Relief Associated With Swap Trade Confirmations
By Kevin M. Foley, Laura N. Krcmaric
On March 24, the Commodity Futures Trading Commission’s Division of Market Oversight extended no-action relief relating to the recordkeeping and confirmation requirements in CFTC Regulations 37.6(b), 37.1000, 37.1001, 45.2, and 45.3(a).…
The Energy Law Blog
Derivatives: Non-Cleared Swaps Variation Margin Update – Limited Relaxed Enforcement by the CFTC, Prudential Regulators and European Supervisory Authorities
Recently, the U.S. Commodity Futures Trading Commission (“CFTC”), the U.S. Prudential Regulators[1] and the European Supervisory Authorities (“ESAs”)[2] have offered limited relief from or guidance for relaxed enforcement of variation…
Corporate & Financial Weekly Digest
40 Days Left Until Compliance Date for Variation Margin Rules for Uncleared Swaps
As part of a global regulatory initiative, the United States, European Union, Canada, Switzerland, Japan, Hong Kong, Singapore and Australia have all adopted, or are in the process of adopting,…
Corporate & Financial Weekly Digest
CFTC Grants No-Action Relief From Certain Swap Clearing Requirements for Swaps With Eligible Affiliate Counterparties in Australia or Mexico
On December 15, the Commodity Futures Trading Commission Division of Clearing and Risk granted US swap participants temporary no-action relief from the required clearing rule with respect to swaps entered…
Banking, Finance and Securities
CFTC proposes regulations superseding in part its 2013 cross-border guidance
On October 11, the Commodity Futures Trading Commission (“CFTC’”) issued proposed rules and interpretations (the “Proposed Rule”) addressing the cross-border application of certain swap provisions of the Commodity Exchange Act.…
Corporate & Financial Weekly Digest
CFTC Chairman Proposes Extension of Phase-In De Minimis Amount Termination Date
Under Title VII of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd–Frank), dealers who execute a notional amount of swaps that exceeds a de minimis threshold must register…
In Solvency
SDNY Rules that Distribution of Liquidated Swap Agreement Collateral is Protected by the Safe Harbor in Bankruptcy Code Section 560
In the recent decision of Lehman Bros. Special Fin. Inc. v. Bank of Am. Nat’l Assoc. (In re Lehman Bros. Holdings Inc.), 2016 WL 3621180 (Bankr. S.D.N.Y. June 28, 2016), the…
Delaware Bankruptcy Update
SDNY Rules that Distribution of Liquidated Swap Agreement Collateral is Protected by the Safe Harbor in Bankruptcy Code Section 560
In the recent decision of Lehman Bros. Special Fin. Inc. v. Bank of Am. Nat’l Assoc. (In re Lehman Bros. Holdings Inc.), 2016 WL 3621180 (Bankr. S.D.N.Y. June 28, 2016), the…
Corporate & Financial Weekly Digest
CFTC Approves Clear Markets North America, Inc. as a Registered Swap Execution Facility
By Ross Pazzol, Stanley V. Polit
On June 27, the Commodity Futures Trading Commission issued an Order of Registration (Order) approving Clear Markets North America, Inc. as a fully registered Swap Execution Facility (SEF). After reviewing…