OMB Control Nos. 

3038-0070, 3038-0096

Swap Data Error Correction Notification Form

Regulations 45.14 and 43.3 Notification of Failure to Timely Correct: Required Form and Manner

Notifications made pursuant to regulations 45.14(a)(1)(ii) and/or 43.3(e)(1)(ii) shall be sent to 

swapserrornotification@cftc.gov and shall include in the subject line of the email the name of the swap 

execution facility, designated contract market, or reporting counterparty making the notification (“Notifying 

Entity”). Each notification shall include an initial assessment of the scope of the error(s) that were discovered 

and any initial remediation plan for correcting the error(s). In providing the initial assessment of the scope and 

any initial remediation plan, the notification shall include the following information:

1(a). Date of notification

1(b). Name(s) of entity making the notification

1(c). Legal Entity Identifier(s) (“LEIs”) of Notifying Entity

1(d). Contact person(s) regarding notification

1(e). Contact person(s) email and phone number

2. Statement clarifying whether the notification concerns error(s) relating to:

(i) swap data previously reported to a swap data repository (“SDR”);

(ii)swap data that was not previously reported to an SDR; or

(iii) both swap data previously reported and swap data not previously reported to an SDR

3. If the notification concerns error(s) relating to data previously reported to an SDR, a listing of the Unique

Swap Identifiers and/or Unique Transaction Identifiers (“USIs” and/or “UTIs”) associated with swap reports

that are representative of the error(s)

4. Swap asset class(es) to which the error(s) pertain

5. SDR(s) to which the swap data was/should have been reported

6. Other parties, if any, that the Notifying Entity has alerted to the error(s) (e.g., SDR(s), National Futures

Association, swap counterparties, etc.)

7(a). Number of transactions impacted by the error(s)

7(b). Number of swap reports impacted by the error(s)
OMB Control Nos. 

3038-0070, 3038-0096

7(c). Time period during which error(s) occurred (“Relevant Time Period”)

7(d). The percent of the Notifying Entity’s reportable transactions impacted during the Relevant Time Period 

(e.g., (number of transactions impacted by the error(s) / number of transactions reported by Notifying Entity 

during the Relevant Time Period) * 100)

7(e). The percent of the Notifying Entity’s reportable transactions impacted during the Relevant Time Period 

for each impacted asset class (e.g., (number of interest rate swap (“IRS”) transactions impacted by the error(s) / 

number of IRS transactions reported by Notifying Entity during the Relevant Time Period) * 100)

8. Date the Notifying Entity discovered the error(s)1

9. Description of how the Notifying Entity discovered the error(s)

10. Brief narrative description of the error(s) 

11. Clarification regarding whether the issues underling the error(s) are still producing new error(s) as of the 

date of the notification 

12 (a). Any initial or other remediation plan, including the estimated date(s) when the error(s) will be corrected 

12 (b). If no initial or other remediation plan exists, the date when the Notifying Entity expects to have a 

remediation plan to correct the error(s)

13. An indication regarding whether the Notifying Entity has reviewed its swaps reporting processes to identify 

other potential reporting issues similar to that underlying the error(s)

14. Clarification regarding whether the error(s) impacted the Notifying Entity’s reporting obligations under Part 

45, Part 43, or both Parts 45 and 43

Notice: Public reporting burden for this collection of information is estimated to average six hours per response, including the time for reviewing 

instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of 

information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a 

currently valid OMB control number. Send comments regarding this burden estimate or any other aspect of this information collection of 

information, including suggestions for reducing this burden, to: Commodity Futures Trading Commission, Attn: PRA Clearance Officer, Three 

Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581. Do not return the completed form to this address.

 

1 See 17 C.F.R. § 45.14(a)(1)(i) (“Any error that a reporting counterparty discovers or could have discovered during the verification 

process required under [17 C.F.R. § 45.14(b)] is considered discovered . . . as of the moment the reporting counterpartybegan the 

verification process during which the error was first discovered or discoverable.”).