Commodity Futures Trading Commission sunsets routine Part 20 reporting for physical commodity swaps, retains recordkeeping and special-call requirements

The Commodity Futures Trading Commission issued a final order ending the routine large trader position-reporting requirements in Part 20 for physical commodity swaps. Clearing organizations, clearing members and swap dealers will no longer have to submit the daily and event-based position reports currently required under that framework. The order was issued under Section 20.9, a sunset provision included when Part 20 was adopted in 2011 as a temporary measure. The Commission said Part 20 predated its broader swap data reporting framework, which now includes registered swap data repositories under Part 49, swap data reporting under Parts 43 and 45, and position limits under Part 150. As a transitional measure, Part 20 recordkeeping and special-call provisions remain in place, so reporting entities must continue to maintain records of paired swap and swaption transactions and futures-equivalent conversion methods and provide them in response to an appropriately scoped special call. The order takes effect upon publication in the Federal Register.