The Dodd-Frank Act directed the CFTC to require registration of swap dealers and to establish a de minimis exception to registration. The CFTC de minimis exception rules provide that market participants who exceed $8 billion in gross notional swap dealing activity over a twelve-month period are required to register with the Commission. The threshold will fall to $3 billion in December 2017, unless the Commission takes action to amend the de minimis exception. The Report were prepared pursuant to Regulation 1.3(ggg)(4)(ii)(B), which directs staff to publish for public comment a report that analyzes swap data to assess the de minimis exception.
Related Documents
Swap Dealer De Minimis Exception Final Staff Report
Swap Dealer De Minimis Exception Preliminary Report
Fact Sheet: Swap Dealer De Minimis Exception Preliminary Report