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.

See also:
Security-Based Swap Data Repositories; DTCC Data Repository (U.S.) LLC; Notice of Filing of Application for Registration as a Security-Based Swap Data Repository