Regulatory Alerts2024-05-01 | 2024-09368Swap Confirmation Requirements for Swap Execution Facilities
The Commodity Futures Trading Commission issued a final rule amending swap execution facility regulations to address operational challenges in uncleared swap confirmations. The amendments permit SEFs to incorporate terms from underlying previously negotiated agreements by reference and allow confirmations to be provided as soon as technologically practicable after execution. These changes also clarify that confirmations legally supersede conflicting terms in prior agreements and include conforming updates to swap dealer documentation standards.
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