OTC IRS: Reporting of termination messages for alpha swaps to U.S. Swap Data Repositories by Eurex Clearing according to the U.S. Part 45 Rule

Since 27 December 2016, the termination of alpha swaps of all OTC IRS transactions, cleared by Eurex Clearing AG (Eurex Clearing) and subject to the Commodity Futures Trading Commission (CFTC) reporting obligation, has to be reported to U.S. Swap Data Repositories (SDRs) to which the alpha swap was initially reported. This is in accordance with the amendments to regulation 17 C.F.R. § 45 of the U.S. Code of Federal Regulations (Part 45 Rule) (see attachment 1).

To avoid duplicative reporting of termination messages for alpha swaps to U.S. SDRs, this circular informs Clearing Members and Registered Customers that Eurex Clearing will report the termination of alpha swaps in its capacity as a DCO to U.S. SDRs in accordance with the reporting requirement under the Part 45 Rule. Clearing Members and Registered Customers are herewith asked to ensure that they no longer report the termination of alpha swaps to U.S. SDRs.

OTC IRS: Reporting of termination messages for alpha swaps to U.S. Swap Data Repositories by Eurex Clearing according to the U.S. Part 45 Rule

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