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ARTICLE · 22 JUNE 2016

ICE To Discontinue Swap Data Reporting For Certain Transactions

Hogan Lovells Cadwalader
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ICE Futures U.S. and ICE Futures Europe will discontinue reporting swap data to a swap data repository on behalf of market participants that execute an exchange of futures for swaps...

United StatesFinance and Banking

The Intercontinental Exchange ("ICE") announced that, as of the close of business on July 14, 2016, ICE Futures U.S. ("IFUS") and ICE Futures Europe ("IFEU") will discontinue reporting swap data to a swap data repository ("SDR") on behalf of market participants that execute an exchange of futures for swaps ("EFS") or an exchange of options for options ("EOO") transaction. Because of this change, market participants must make arrangements as of July 14, 2016 to report the swap component of the EFS/EOO to an SDR, and must continue to ensure that the EFS/EOO will be reported to the exchanges in accordance with IFUS and IFEU rules.

CFTC Regulations Parts 43 and 45 concerning swap-reporting requirements apply to the swap component of EFS and EOO transactions. Since March 2013, IFUS and IFEU have reported the swap component of an EFS/EOO transaction in order to assist market participants' compliance with the requirements of Parts 43 and 45. Due to the CFTC's recent efforts

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