La Commodity Futures Trading Commission a publié une FAQ sur le thème de la déclaration des opérations de SWAP.
Une opération de Swap désigne une paire d’opérations à terme exécutées afin de spéculer à propos des changements dans les taux d'intérêt de paires de devises qui sont échangées.
Section 21(b)(1)(A) of the Commodity Exchange Act (“CEA”), added by section 728 of the Dodd Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), addresses the content of swap transaction data that registered entities and reporting counterparties must report to registered swap data repositories (“SDRs”) and directs the Commission to “prescribe standards that specify the data elements for each swap that shall be collected and maintained by each registered swap data repository.” In fulfilling this statutory mandate, CEA section 21(b)(1)(B) also directs the Commission to “prescribe consistent data element standards applicable to registered entities and reporting counterparties.”
Part 45 implements the requirements of section 21 of the CEA by setting forth the manner and content of reporting to SDRs and requires electronic reporting both when a swap is initially executed and over the course of the swap’s existence. Reporting done at the time of execution is referred to as “creation” data and reporting done over the course of the swap’s existence is referred to as “continuation” data. The part 45 regulations set forth varying reporting timeframes and compliance dates depending on the type of reporting, counterparty, execution or product.
Part 45 also requires the use of three unique identifiers in connection with reporting: Unique Swap Identifiers (“USI”), Legal Entity Identifiers (“LEI”), and Unique Product Identifiers (“UPI”).
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