The U.S. Commodity Futures Trading Commission (CFTC) today approved a final rule to amend a requirement that swap dealers (SD) and major swap participants (MSP) exchange the terms of swaps with their counterparties for portfolio reconciliation so that SDs and MSPs need only exchange the “material terms” of swaps. This requirement is found in CFTC Regulation 23.500(i).
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr7365-16
