Today is deadline to obtain CFTC legal identifier for swaps recordkeeping and reporting
Originally published April 10, 2013
Public power utilities that are counterparties to swaps must comply by today (April 10) with the Commodity Futures Trading Commission’s legal identifier requirement. Each counterparty to a swap that is subject to the CFTC’s jurisdiction must be identified in all recordkeeping and reporting by a single Legal Entity Identifier. The legal identifier requirement also applies to trade options and an identifier is needed to take advantage of a CFTC "no-action" letter (see story, this issue).
The CFTC is still working on infrastructure for a "Legal Entity Identifier" system, but counterparties can obtain an interim legal identifier via the "CICI Utility" website. The website allows a counterparty to self-register or to self-certify if a third party has registered the counterparty.
The CFTC has issued an advisory on registering for a legal identifier.
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Senior Vice President, Publishing
Jeanne Wickline LaBella
Editor, Public Power Daily
Fallon W. Forbush
Manager, Integrated Media
David L. Blaylock
Integrated Media Editor
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