Dodd-Frank Timeline, Requirements for Processing, Clearing, and Transfer of Customer Positions
| Proposal Date
|| Final Rule Issue
|| Effective Date
| December 13, 2010
|| October 18, 2011
|| January 9, 2012
On December 9, 2010, the CFTC held an open meeting on the Twelfth Series of Proposed Rules under the Dodd-Frank Act. Among the topics at this meeting was a rule proposal regarding requirements for processing, clearing, and transfer of customer positions. Specifically:
- If a swap is subject to mandatory clearing,the swap dealer or major swap participant must submit the swap for clearing no later than the close of the business day.
- In the swap is not subject to mandatory clearing must, if cleared, be submitted no later than the business day following the swap transaction.
- Swap Execution Facilities (SEFs) and Designated Contract Markets (DCMs), must submit swaps immediately upon execution.
- The functions and objectives of Derivatives Clearing Organizations (DCOs), including Core Principle F (Treatment of Funds) are further clarified by this proposal. 
Related Documents: Fact Sheet, Q&A, Federal Registry Entry
- ↑ Open Meeting on Twelfth Series of Proposed Rules under the Dodd-Frank Act. CFTC. Retrieved on February 26, 2011.