Guidelines For Electronic Records

Regulation 17 CFR 45.2

One of the key rules of the Commodities Exchange Act (CEA) surrounds the record keeping requirements of the OTC derivative markets. Rule 17 CFR 45.2 deals with the record keeping requirements for swap related transactions; more specifically, the rule defines who the derivative market participants are and what additional steps are needed to comply with the record keeping requirements related to swap transactions.

The Who

If you are one of the following derivative market participants, then CFR 45.2 pertains to you.

  • Swap Execution Facilities (SEF)
  • Designated Contract Market (DCM)
  • Derivative Clearing Organization (DCO)
  • Swap Dealer (SD)
  • Major Swap Participant (MSP)

For the above listed entities, the records required under 17 CFR 1.31 and 17 CFR 23 must be kept for a period of at least 5 years following the termination of the swap contract.

The How

Record keeping rules and regulations are constantly evolving, and having a trusted partner to help you navigate these changes is a must. For over 20 years, Patrina has provided record archiving solutions that satisfy the recordkeeping rules and requirements of the OTC markets. Learn more about how Patrina can keep you compliant with a free consultation.

For More Information about CFTC 17 CFR 45.2 and 23

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