CFTC Phase 2 Countdown: Part 1 – How Ready Are You?

The Commodity Futures Trading Commission (CFTC) was the first regulator to go-live with requirements for the reporting of OTC derivatives to a swap data repository (SDR), kicking off a regulatory cascade that has created transparency, mitigated systemic risk, and protected against market abuse in the derivatives markets.  Other jurisdictions in North America, Europe, Asia, and Australia followed suit to obtain a comprehensive, global view of OTC derivatives market activity and enforce similar regulatory reporting programs. 

More than a decade later, and with the important insights that have become available on reportable data, the CFTC and other regulatory regimes are revising their trade reporting rules in the name of global data harmonization and standardization, by developing common data standards for reporting various transactions, including the standardization of OTC derivative products using a Unique Product Identifier (UPI).

Follow Essentia in the coming days to learn about CFTC Phase 2:

  • The Move to a UPI Model
  • Regulator Deadlines & Key Dates
  • Impacted Markets 
  • Key Takeaways and Suggested Actions

Essentia is proud to support our clients through regulatory changes and updates.  For questions on the implications of CFTC Phase 2 on your organization, please contact us to reach out about how Essentia can help.

Rahim Kabani, Director, Essentia Advisory Partners

Rahim Kabani is a Director at Essentia Advisory Partners where he heads our Regulatory Compliance Advisory service. He has over 15 years of derivatives trading & regulatory compliance experience spanning multiple jurisdictions.

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