Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the CFTC Parts 43 and 45 Reporting Proposal Phase 1. This proposal is jointly submitted by the Futures Industry Association and the Global Technical Committee to address Swaps Data Repository trade reporting to meet the CFTC’s Part 32 and Part 45 reporting rules:
17 CFR Part 43: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2011-33173a.pdf
17 CFR Part 45: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2011-33199a.pdf
This gap analysis introduces significant enhancements to FIX to support trade reporting for SDRs, focusing on CDS and IRS reporting. The accompanying pdf attempts to summarize the work done so far. Included in this gap analysis proposal is how Unique Swap Identifier (USI) would be reported as well.
Please use the link below to review the gap analysis proposal document and the pdf. An updated version of the gap analysis proposal will be posted before 31 July 2012, which will consist of only editorial changes to provide better definitions for the new fields.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/6828/CFTC%20Parts%2043%20%26%2045%20Phase%201%20Gap%20Analysis%20and%20Slides.zip
The public comment period ends on August 17, 2012.
The GA modifies ClearedIndicator (1832) to add a new enum. And the CFTC mapping table proposes that ClearedIndicator be used. However, ClearedIndicator, at least as of EP156, exists only on PositionMaintenanceReport and PositionReport. It does not appear on the Trade Capture Report, which is the primary message for Part 43 and 45 reporting.
I believe the GA needs to add ClearedIndicator to the Trade Capture Report at a minimum. This seems to be intended but omitted.
Thanks Ryan for pointing out this omission in the GA. It was intended to be added. We’ll make a note and address during public comments disposition and issue an update prior to the GTC Governance Board’s vote.
The GA modifies ClearedIndicator (1832) to add a new enum. And the CFTC mapping table proposes that ClearedIndicator be used. However, ClearedIndicator, at least as of EP156, exists only on PositionMaintenanceReport and PositionReport. It does not appear on the Trade Capture Report, which is the primary message for Part 43 and 45 reporting.
I believe the GA needs to add ClearedIndicator to the Trade Capture Report at a minimum. This seems to be intended but omitted.
Any updates on when the Tech committee will finalize the proposal and add actual tags for the proposed new repeating groups?
The Global Technical Committee has reviewed and preliminarily approved the CFTC Parts 43 and 45 Reporting Proposal Phase 1. This proposal is jointly submitted by the Futures Industry Association and the Global Technical Committee to address Swaps Data Repository trade reporting to meet the CFTC’s Part 32 and Part 45 reporting rules:
17 CFR Part 43: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2011-33173a.pdf
17 CFR Part 45: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2011-33199a.pdf
This gap analysis introduces significant enhancements to FIX to support trade reporting for SDRs, focusing on CDS and IRS reporting. The accompanying pdf attempts to summarize the work done so far. Included in this gap analysis proposal is how Unique Swap Identifier (USI) would be reported as well.
Please use the link below to review the gap analysis proposal document and the pdf. An updated version of the gap analysis proposal will be posted before 31 July 2012, which will consist of only editorial changes to provide better definitions for the new fields.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/6828/CFTC%20Parts%2043%20%26%2045%20Phase%201%20Gap%20Analysis%20and%20Slides.zipThe public comment period ends on August 17, 2012.
Additional changes have been made to this document and are summarized in the following PDF: http://fixprotocol.org/documents/7270/Swaps%20Data%20Reporting%20Enhancement%20Post-Presentation%20Phase%201%20Updates%20v3.pdf