The Over-The-Counter (OTC) Derivatives Reporting in the United States

The Over-The-Counter (OTC)

The 2008-2009 financial crisis spurred policymakers in the G-20, to commit their countries to reforming domestic and international rules governing the OTC derivatives markets. Reforms in the U.S. are being carried out under the Dodd-Frank Act and rulemakings by U.S. agencies, including the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), as well as prudential regulators including the Federal Reserve. Title VII of the Dodd-Frank Act grants CFTC regulatory authority over swaps, and the four areas of focus are: Electronic trading via Swap Execution Facilities (SEFs), clearing through Central Counterparties (CCPs), reporting to Swaps Data Repositories (SDRs), and adherence to business conduct standards.

Related content

This paper provides an overview of key derivatives reporting requirements, including:

  • CFTC Part 43 Real -Time reporting
  • CFTC Part 46 Swap data recordkeeping and reporting
  • CFTC Part 46 historic trade reporting
  • Challenges faced by financial services firms for OTC derivatives trade reporting

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