Security-Based Swap Data Repositories
SIFMA AMG provided comments to the Securities and Exchange Commission (SEC) on the Application for Registration of DTCC Data Repository (U.S.) LLC (“DTCC”) as a Security-Based Swap Data Repository (“SBS DR”) with the Commission.
While AMG supports SBS reporting and believes that DTCC is well-equipped to serve the role of SBS DR, AMG believes that DTCC should revise its on-boarding requirements to provide a mechanism for asset managers on behalf of non-reporting clients to fulfill the limited obligations imposed by Regulation SBSR without having to fully on-board. Further, AMG asks that the Commission impose a cap on the reporting of notional amounts for block trades. As the market moves closer to the implementation of SBS reporting, this crucial protection should be addressed to avoid disruptions.
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