Source: https://www.law.cornell.edu/cfr/text/17/23.202
Timestamp: 2015-12-01 02:39:37
Document Index: 253216705

Matched Legal Cases: ['art 23', '§ 23', '§ 45', '§ 45', '§ 45', '§ 23', '§ 45', '§ 45', '§ 45', '§ 1', '§ 2', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 9', '§ 9', '§ 12', '§ 12', '§ 13', '§ 13', '§ 16', '§ 18', '§ 19', '§ 21', 'art 23', 'art 23', 'art 23']

17 CFR 23.202 - Daily trading records. | US Law | LII / Legal Information Institute
CFR › Title 17 › Chapter I › Part 23 › Subpart F › Section 23.202 17 CFR 23.202 - Daily trading records.
§ 23.202
Daily trading records.
Daily trading records for swaps. Each swap dealer and major swap participant shall make and keep daily trading records of all swaps it executes, including all documents on which transaction information is originally recorded. Each swap dealer and major swap participant shall ensure that its records include all information necessary to conduct a comprehensive and accurate trade reconstruction for each swap. Each swap dealer and major swap participant shall maintain each transaction record in a manner identifiable and searchable by transaction and counterparty.
Pre-execution trade information. Each swap dealer and major swap participant shall make and keep pre-execution trade information, including, at a minimum, records of all oral and written communications provided or received concerning quotes, solicitations, bids, offers, instructions, trading, and prices, that lead to the execution of a swap, whether communicated by telephone, voicemail, facsimile, instant messaging, chat rooms, electronic mail, mobile device, or other digital or electronic media. Such records shall include, but are not limited to:
Reliable timing data for the initiation of the trade that would permit complete and accurate trade reconstruction; and
A record of the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device, for each quotation provided to, or received from, the counterparty prior to execution.
Execution trade information. Each swap dealer and major swap participant shall make and keep trade execution records, including:
All terms of each swap, including all terms regarding payment or settlement instructions, initial and variation margin requirements, option premiums, payment dates, and any other cash flows;
The trade ticket for each swap (which, together with the time of execution of each swap, shall be immediately recorded electronically for further processing);
The unique swap identifier, as required by § 45.4(a), for each swap;
A record of the date and time of execution of each swap, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device;
The name of the counterparty with which each such swap was executed, including its unique counterparty identifier, as required by § 45.4(b);
The date and title of the agreement to which each swap is subject, including but not limited to, any swap trading relationship documentation and credit support arrangements;
The product name of each swap, including its unique product identifier, as required by § 45.4(c);
The price at which the swap was executed;
Fees or commissions and other expenses, identified by transaction; and
Any other information relevant to the swap.
Post-execution trade information. Each swap dealer and major swap participant shall make and keep records of post-execution trade information containing an itemized record of all relevant post-trade processing and events.
Records of post-trade processing and events shall include all of the following, as applicable:
Confirmation;
Novation;
Reconciliation;
Valuation;
Margining;
Collateralization; and
Central clearing.
Each swap dealer and major swap participant shall make and keep a record of all swap confirmations, along with the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device; and
Each swap dealer and major swap participant shall make and keep a record of each swap portfolio reconciliation, including the number of portfolio reconciliation discrepancies and the number of swap valuation disputes (including the time-to-resolution of each valuation dispute and the age of outstanding valuation disputes, categorized by transaction and counterparty);
Each swap dealer and major swap participant shall make and keep a record of each swap portfolio compression exercise in which it participates, including the dates of the compression, the swaps included in the compression, the identity of the counterparties participating in the exercise, the results of the compression, and the name of the third-party entity performing the compression, if any; and
Each swap dealer and major swap participant shall make and keep a record of each swap that it centrally clears, categorized by transaction and counterparty.
Ledgers. Each swap dealer and major swap participant shall make and keep ledgers (or other records) reflecting the following:
Payments and interest received;
Moneys borrowed and moneys loaned;
The daily calculation of the value of each outstanding swap;
The daily calculation of current and potential future exposure for each counterparty;
The daily calculation of initial margin to be posted by the swap dealer or major swap participant for each counterparty and the daily calculation of initial margin to be posted by each counterparty;
The daily calculation of variation margin payable to or receivable from each counterparty;
The daily calculation of the value of all collateral, before and after haircuts, held by or posted by the swap dealer or major swap participant;
All transfers of collateral, including any substitutions of collateral, identifying in sufficient detail the amounts and types of collateral transferred; and
All charges against and credits to each counterparty's account, including funds deposited, withdrawn, or transferred, and charges or credits resulting from losses or gains on transactions.
Daily trading records for related cash and forward transactions. Each swap dealer and major swap participant shall make and keep daily trading records of all related cash or forward transactions it executes, including all documents on which the related cash or forward transaction information is originally recorded. Each swap dealer and major swap participant shall ensure that its records include all information necessary to conduct a comprehensive and accurate trade reconstruction for each related cash or forward transaction. Each swap dealer and major swap participant shall maintain each transaction record in a manner identifiable and searchable by transaction and by counterparty. Such records shall include, but are not limited to:
A record of all oral and written communications provided or received concerning quotes, solicitations, bids, offers, instructions, trading, and prices, that lead to the conclusion of a related cash or forward transaction, whether communicated by telephone, voicemail, facsimile, instant messaging, chat rooms, electronic mail, mobile device, or other digital or electronic media;
Reliable timing data for the initiation of the transaction that would permit complete and accurate trade reconstruction;
A record of the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device, for each quotation provided to, or received from, the counterparty prior to execution;
A record of the date and time of execution of each related cash or forward transaction, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device;
All terms of each related cash or forward transaction;
The price at which the related cash or forward transaction was executed; and
A record of the daily calculation of the value of the related cash or forward transaction and any other relevant financial information.
§ 23.202 Daily trading records.
(i) Reliable timing data for the initiation of the trade that would permit complete and accurate trade reconstruction; and
(ii) A record of the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device, for each quotation provided to, or received from, the counterparty prior to execution.
(i) All terms of each swap, including all terms regarding payment or settlement instructions, initial and variation margin requirements, option premiums, payment dates, and any other cash flows;
(ii) The trade ticket for each swap (which, together with the time of execution of each swap, shall be immediately recorded electronically for further processing);
(iii) The unique swap identifier, as required by § 45.4(a), for each swap;
(iv) A record of the date and time of execution of each swap, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device;
(v) The name of the counterparty with which each such swap was executed, including its unique counterparty identifier, as required by § 45.4(b);
(vi) The date and title of the agreement to which each swap is subject, including but not limited to, any swap trading relationship documentation and credit support arrangements;
(vii) The product name of each swap, including its unique product identifier, as required by § 45.4(c);
(viii) The price at which the swap was executed;
(ix) Fees or commissions and other expenses, identified by transaction; and
(x) Any other information relevant to the swap.
(i) Records of post-trade processing and events shall include all of the following, as applicable:
(A) Confirmation;
(B) Termination;
(C) Novation;
(D) Amendment;
(E) Assignment;
(F) Netting;
(G) Compression;
(H) Reconciliation;
(I) Valuation;
(J) Margining;
(K) Collateralization; and
(L) Central clearing.
(ii) Each swap dealer and major swap participant shall make and keep a record of all swap confirmations, along with the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device; and
(iii) Each swap dealer and major swap participant shall make and keep a record of each swap portfolio reconciliation, including the number of portfolio reconciliation discrepancies and the number of swap valuation disputes (including the time-to-resolution of each valuation dispute and the age of outstanding valuation disputes, categorized by transaction and counterparty);
(iv) Each swap dealer and major swap participant shall make and keep a record of each swap portfolio compression exercise in which it participates, including the dates of the compression, the swaps included in the compression, the identity of the counterparties participating in the exercise, the results of the compression, and the name of the third-party entity performing the compression, if any; and
(v) Each swap dealer and major swap participant shall make and keep a record of each swap that it centrally clears, categorized by transaction and counterparty.
(i) Payments and interest received;
(ii) Moneys borrowed and moneys loaned;
(iii) The daily calculation of the value of each outstanding swap;
(iv) The daily calculation of current and potential future exposure for each counterparty;
(v) The daily calculation of initial margin to be posted by the swap dealer or major swap participant for each counterparty and the daily calculation of initial margin to be posted by each counterparty;
(vi) The daily calculation of variation margin payable to or receivable from each counterparty;
(vii) The daily calculation of the value of all collateral, before and after haircuts, held by or posted by the swap dealer or major swap participant;
(viii) All transfers of collateral, including any substitutions of collateral, identifying in sufficient detail the amounts and types of collateral transferred; and
(ix) All charges against and credits to each counterparty's account, including funds deposited, withdrawn, or transferred, and charges or credits resulting from losses or gains on transactions.
(1) A record of all oral and written communications provided or received concerning quotes, solicitations, bids, offers, instructions, trading, and prices, that lead to the conclusion of a related cash or forward transaction, whether communicated by telephone, voicemail, facsimile, instant messaging, chat rooms, electronic mail, mobile device, or other digital or electronic media;
(2) Reliable timing data for the initiation of the transaction that would permit complete and accurate trade reconstruction;
(3) A record of the date and time, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device, for each quotation provided to, or received from, the counterparty prior to execution;
(4) A record of the date and time of execution of each related cash or forward transaction, to the nearest minute, using Coordinated Universal Time (UTC), by timestamp or other timing device;
(5) All terms of each related cash or forward transaction;
(6) The price at which the related cash or forward transaction was executed; and
(7) A record of the daily calculation of the value of the related cash or forward transaction and any other relevant financial information.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 7 - AGRICULTURE§ 1a - Definitions§ 2 - Jurisdiction of Commission; liability of principal for act of agent; Commodity Futures Trading Commission; transaction in interstate commerce§ 6 - Regulation of futures trading and foreign transactions§ 6a - Excessive speculation§ 6b - Contracts designed to defraud or mislead§ 6b-1§ 6c - Prohibited transactions§ 6p - Standards and examinations§ 6r - Reporting and recordkeeping for uncleared swaps§ 6s - Registration and regulation of swap dealers and major swap participants§ 6t - Large swap trader reporting§ 9 - Prohibition regarding manipulation and false information§ 9a - Assessment of money penalties§ 12 - Public disclosure§ 12a - Registration of commodity dealers and associated persons; regulation of registered entities§ 13b - Manipulations or other violations; cease and desist orders against persons other than registered entities; punishment§ 13c - Responsibility as principal; minor violations§ 16a - Service fees and National Futures Association study§ 18 - Complaints against registered persons§ 19 - Consideration of costs and benefits and antitrust laws§ 21 - Registered futures associations
Title 17 published on 2015-04-01The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR Part 23 after this date.2015-09-22; vol. 80 # 183 - Tuesday, September 22, 201580 FR 57129 - Proposal To Amend the Definition of “Material Terms” for Purposes of Swap Portfolio Reconciliation
typeregulations.gov FR Doc.2015-24021 RIN3038-AE17 COMMODITY FUTURES TRADING COMMISSION Notice of proposed rulemaking. Comments must be received on or before November 23, 2015. 17 CFR Part 23 SummaryThe Commodity Futures Trading Commission (“Commission” or “CFTC”) proposes to amend a provision of the Commission&apos;s regulations in connection with the material terms for which counterparties must resolve discrepancies when engaging in portfolio reconciliation.
2015-07-14; vol. 80 # 134 - Tuesday, July 14, 201580 FR 41376 - Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants—Cross-Border Application of the Margin Requirements
typeregulations.gov FR Doc.2015-16718 RIN3038-AC97 COMMODITY FUTURES TRADING COMMISSION Proposed rule. Comments must be received on or before September 14, 2015. 17 CFR Part 23 SummaryOn October 3, 2014, the Commission published proposed regulations to implement section 4s(e) of the Commodity Exchange Act, as added by section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). This provision requires the Commission to adopt initial and variation margin requirements for swap dealers (“SDs”) and major swap participants (“MSPs”) that do not have a Prudential Regulator (collectively, “CSEs” or “Covered Swap Entities”). In the October 3, 2014 proposing release, the Commission also issued an Advance Notice of Proposed Rulemaking (“ANPR”) requesting public comment on the cross-border application of such margin requirements. In this release, the Commission is proposing a rule for the application of the Commission&apos;s margin requirements to cross-border transactions.