CFTC Releases Staff Analysis of Market Data Related to Single-Name and Index Credit Default Swaps

The staffs of the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have released analyses of market data related to single-name and index credit default swap (CDS) transactions.

The analyses, which were conducted by the staff of the SEC’s Division of Risk, Strategy and Financial Innovation and shared with the CFTC’s Office of Chief Economist, are available for review as part of the comment files for rules the Commissions jointly proposed to further define the terms “swap dealer,” “security-based swap dealer,” “major swap participant,” “major security-based swap participant” and “eligible contract participant.” The rules were proposed in December 2010 as one part of the implementation of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”).   For access to the information, please see the Related Links.

Analysis of this data may supplement other information considered in connection with the final rules defining the terms noted above, and it is made available to allow the public to consider this supplemental information. The CFTC and SEC staffs expect that the Commissions will consider the adoption of the final rules in the next several weeks.

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