Ready, Set, Go For CFTC Swap Reporting

Remember back in the before (COVID-19) times, when it took days to wade through all the emails awaiting you after a vacation? Sadly, today you’re not resurfacing from time away with the still fresh memories and/or physical souvenirs from an island (tan), cruise (extra 10 pounds), other than an island (calluses on your feet from visiting every museum, cathedral/church/temple, and castle known to man). Instead, you have simply survived year-end reporting. Congratulations on all the hard work paying off.

If, after resurfacing, you have decided to simplify your life and moved all non-year-end reporting-related emails to the Deleted Items file, one of the emails was from AxiomSL about CFTC swap reporting. Given the recent CFTC update, we would like to talk to you about how we can help you prepare for the October 6, 2021 CFTC swap dealer capital and reporting requirements.

Are You Ready?

AxiomSL’s CFTC Reporting SolutionWhile the CFTC has published the deadline, the new swap dealer reporting forms have not yet been finalized. So, at this point, much is still uncertain about what and how swap dealers will report. However, as AxiomSL constantly monitors the regulatory landscape and is aware of this requirement, it is creating a CFTC swap reporting solution that will be available for organizations and their foreign affiliates to comply when they are ready.

Setting The Stage

As the leading provider of risk and regulatory solutions for banks and broker-dealers globally, AxiomSL is launching a comprehensive data management, calculation, and reporting solution that accords with the new CFTC requirements as well as the new Securities and Exchange Commission (SEC) swap dealer rules. Coverage includes:

  • CFTC capital computation and reporting requirements for standalone swap dealers utilizing bank-based, net liquid asset, or tangible net worth approaches, including supplemental schedules.
  • New FOCUS reports and Supplemental Schedules (including position data and credit concentrations) for both SEC and CFTC registered swap dealers and major swap participants (such as broker-dealers/FCMs).

Go For AxiomSL’s CFTC Swap Reporting Solution

Imagine, mapping your data once and using it enterprise-wide, upstream, and down, efficiently, transparently, and sustainably; or tracing your data from period-to-period, all without human intervention and the predictable inaccuracies. And no more reconciling manual spreadsheets.

For AxiomSL’ clients, it could not be any easier; simply add the CFTC solution. With RegCloud® (AxiomSL’s ControllerView® platform as SaaS), broker-dealer solution and BrokerView data dictionary clients have a fully managed, audit-empowered, data management, risk, and regulatory solution on a regulatory-sanctioned vehicle. Now is the time to transition. Unlike taxes, there are no extensions.

Missed deadlines are costly; there is so much to do to be ready; and this isn’t even a business priority. With your limited resources, wouldn’t you like someone else to do all the hard work the next time around? To find out how to become CFTC ready in October, chat with us today.



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