Swap Entities Regulation - Comment Letter - CME Group - January 3, 2011
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|FINAL RULE: This page refers to the proposed rulemaking on the provisions common to registered entities. The CFTC final rule was issued at its July 19 open meeting.|
|Proposal Date||Final Rule Issue||Effective/Compliance Date|
|November 2, 2010||July 27, 2011||September 26, 2011|
Provisions Common to Registered Entities
January 3, 2011
Summary of points from the comment letter:
- The new product and rule submission procedures would significantly increase costs to registered entities.
- The proposed "Stay" provision should not be applied in all circumstances.
- The scope of the proposed approval procedures for Systemically Important Derivatives Clearing Organizations (SIDCOs) is overbroad.
- The prohibition on event contracts should be further defined.
- De-listing of products should be made effective upon submission.