CFTC Staff Announces Modifications to the Technical Specification for Parts 43 and 45

The U.S. Commodity Futures Trading Commission, CFTC, has published a revised version (Version 3.2) of its technical specifications for the reporting and public dissemination of swap contracts and transaction data under Statutory Instruments 17 CFR Part 43 (Real-Time Public Reporting) and 17 CFR Part 45 (Swap Data Recordkeeping and Reporting Requirements). The document – which sets out detailed instructions on such reporting, including „the definitions, formats, and allowable values for data elements that are to be reported to swap data repositories (SDRs)“ – was updated to reflect the mandatory use of the unique product identifier (UPI) and corresponding swap classifications into credit, equity, foreign exchange, and interest rate swaps from January 29, 2024, at the latest.
The identifier and classifications will be furnished by the Derivatives Service Bureau Limited (DSB) and must subsequently be used by all swap counterparties and major swap participants in their reporting of any swap related data to swap data repositories and for recordkeeping purposes.