SIFMA AMG Urges Depository Trust and Clearing Corp. to Revise Swap Data Repository Application
In comments on the Application for Registration of DTCC Data Repository (U.S.) LLC ("DTCC") as a Security-Based Swap Data Repository ("SBS DR") with the SEC, SIFMA Asset Management Group ("AMG") argued that DTCC should revise its on-boarding requirements before the application is approved. AMG suggested that revised on-boarding requirements would enable asset managers who act on behalf of non-reporting clients to fulfill the limited obligations imposed by Regulation SBSR (Reporting and Dissemination of Security-Based Swap Information) without coming onboard fully and incurring direct costs. In addition, SIFMA AMG urged the SEC to impose a cap on reporting notional amounts for block trades.
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