Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the Legally Segregated Operationally Commingle (LSOC) proposal. This gap analysis addresses new CFTC requirements mandated by the Dodd-Frank Act pertaining to the Legally Segregated Operationally Commingled (LSOC) Model. The LSOC Model applies to cleared swaps, and imposes reporting requirements from Futures Commission Merchants (FCMs).
The gap analysis seeks to enhance the existing AccountSummaryReport(35=CQ), released as EP117 after 5.0 Service Pack 2, to support the reporting of LSOC information from clearing members to the clearing organizations.
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/6822/FIX%20Protocol%20Gap%20Analysis%20-%20LSOC%20v0_3.doc
The public comment period ends on August 3, 2012.