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CFTC Rule 23.202

Requires swap dealers and major participants to keep daily trading records of all swaps executed. The records must include all information needed to comprehensively and accurately reconstruct the trade for each swap.

Rule Overview

Jurisdiction: United States

Regulator: CFTC

Topic: Recordkeeping

Overview
Latest News
Further Reading

Daily records required include:

  • Pre-execution trade information including at a minimum:
    • All oral and written communications in all formats provided or received that lead to the execution of a swap including:
      • Quotes;
      • Solicitations;
      • Bids;
      • Offers;
      • Instruction;
      • Trading; and
      • Prices.
  • Execution trade information including:
    • All terms;
    • Trade ticket;
    • UTS;
    • Date and time of execution to the nearest minute using UTC;
    • Counterparty name;
    • Date and title of agreement;
    • Product name of swap;
    • Price of swap;
    • Fees or commissions and expenses; and
    • Any other relevant information.
  • Post-execution trade information including:
    • Post-trade processing records;
    • Swap portfolio compression exercise; and
    • Central clearing.
  • Ledgers
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Further Reading

SEC 17 CFR Final Rule Release Go to https://www.sec.gov/files/rules/final/2019/34-87005.pdf