The US Commodity Futures Trading Commission (CFTC or Commission) has approved the application of ICE Trade Vault, LLC for provisional registration as a swap data repository.
The decision is pursuant to section 21 of the Commodity Exchange Act and section 49.3(b) of the Commission’s regulations, subject to the terms and conditions of the order of Provisional Registration.
ICE Trade Vault, LLC is the first entity for which the Commission has issued provisional registration as a swap data repository – a category of CFTC registered entities newly created by the Dodd-Frank Act of 2010 to perform a variety of functions related to the collection and maintenance of swap transaction data and information.
ICE Trade Vault, LLC was provisionally registered as a swap data repository for the interest rate, credit, foreign exchange, and other commodity asset classes. The Commission continues to promulgate regulations to implement the Dodd-Frank Act of 2010.
ICE Trade Vault, LLC will be required, as will all future provisionally and fully registered swap data repositories, to demonstrate continued compliance with existing regulations and to come into compliance with new regulations, amendments, guidance and other requests in accordance with the dates established therein in order to obtain and maintain permanent registration.