Commodity Futures Trading Commission 

 Office of Public Affairs 

 Three Lafayette Centre 

 1155 21st Street, NW 

 Washington, DC 20581 

 www.cftc.gov

Proposed Rules on Reporting, Recordkeeping, Public Information 

and Information Sharing Requirements for DCOs 

The Commodity Futures Trading Commission (Commission) is proposing rules which codify and clarify the 

reporting, recordkeeping, public information and information-sharing core principles for derivatives clearing 

organizations (DCOs). 

Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) 

Section 731 of the Dodd-Frank Act amends the Commodity Exchange Act (CEA) by amending DCO Core 

Principles J (reporting), K (recordkeeping), L (public information) and M (information sharing). 

Reporting 

The proposed rulemaking has two types of reporting requirements: (1) periodic and (2) event-specific (where the 

reporting requirement is triggered by the occurrence of a specific event). 

(1) Periodic 

• There are 3 time frames for periodic reporting: daily, quarterly and annually. 

• The daily reporting requirement would require certain information regarding margin, cash flows and end-ofday positions to be reported to the Commission on a daily basis by the morning of the following business 

day. This requirement would provide the Commission with essential information that a DCO has readily 

available as part of its regular business activities. 

• The quarterly reporting requirement restates the financial resources quarterly reporting requirements that 

were proposed in October (75 FR 63113 (Oct. 14, 2010)). 

• The annual reporting requirements address the chief compliance officer annual compliance report as 

required by the Dodd-Frank Act. They also require that audited year-end financial statements be filed with 

the Commission by each DCO. 

(2) Event-Specific 

• The second category of reporting requirements in this proposed rulemaking relates to event-specific reports. 

Many of these reports can be categorized as relating to either significant financial changes at the DCO or 

problems arising with a clearing member. 

• For example, a DCO would be required to report certain substantial decreases in ownership equity, financial 

resources or working capital. 

• The other category requires a report to the Commission when there are issues ranging from a clearing 

member delaying initial margin payments to a clearing member default. 

Recordkeeping 

Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080 
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080 

The proposed regulations codify the statutory language with additional clarification and specifically require 

maintenance of all records generated pursuant to Part 39 of the Commission’s regulations (governing DCOs). The 

rulemaking also includes a cross-reference to the Commission’s technical and procedural recordkeeping 

requirements in Regulation 1.31. 

Public Information 

The proposed regulations codify the statutory language with additional clarification. The proposed rules would 

require providing and making available certain information to allow market participants to assess the risks associated 

with using the services of the DCO. In particular, the proposed rules would require publicly disclosing information, 

including clearing fees, margin methodology, financial resources, daily trading information, and rules and 

procedures. Certain information would also be required to be made readily available to the public. 

Information Sharing 

The proposed rules would codify the statutory provisions of Core Principle M in substantially the same form.