CFTC’s Division Of Market Oversight Issues New Guidance On The Application Of Certain Commission Regulations To Swap Execution Facilities

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) issued new guidance today to swap execution facilities (SEFs) and applicants for registration as a SEF concerning certain Commission regulations.

There are six areas addressed by today’s guidance, which include: a SEF’s use of proprietary data or personal information collected by the SEF from its market participants; consent to the jurisdiction of a SEF; registration requirements under Commission regulation 37.3; and member guarantees. In addition, although DMO addressed the types of actions a SEF may take during an emergency in its September 30 Guidance, today’s guidance again reiterates the requirements for taking emergency actions and it clarifies certain SEF reporting obligations.