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Availability of Staff Analysis on Reporting and Dissemination of Security-Based Swap Information

FOR IMMEDIATE RELEASE
2014-233
Washington D.C., Oct. 17, 2014

The staff of the Securities and Exchange Commission today made available analyses of data on the reporting and dissemination of security-based swap transaction information. 

The analyses are posted on the SEC’s website as part of the comment file for rules proposed by the SEC in November 2010, and re-proposed in May 2013, on the reporting and dissemination of security-based swap transaction information.  The analyses were conducted by staff in the SEC’s Division of Economic and Risk Analysis and the Division of Trading and Markets and examine:

  • The effect of the Commodity Futures Trading Commission’s mandated post-trade transparency in the index credit default swaps (CDS) market on total credit exposure, trading volume, and trade size in the index CDS market
  • Recent single-name CDS transactions and if and how dealers may hedge any large notional exposures that result from executing trades with their customers

The staff believe that the analyses have the potential to be informative for evaluating rules on the reporting and dissemination of security-based swap transaction information and are making them available to allow the public to consider and comment on them.  These analyses may supplement other information considered in connection with the rules.  Comments may be submitted to the comment file (File No. S7-34-10) for the proposed rule and should be received by November 14.

Additional studies, memoranda, or other substantive items may be added by the Commission or staff to the comment file during this rulemaking.  A notification of the inclusion in the comment file of any such materials will be made available on the SEC’s website.  To ensure direct electronic receipt of such notifications, sign up through the “Stay Connected” option at www.sec.gov to receive notifications by e-mail.

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