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Today is deadline to obtain CFTC legal identifier for swaps recordkeeping and reporting


From the April 10, 2013 issue of Public Power Daily

Originally published April 10, 2013

By Robert Varela
Editorial Director
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
202/467-2948
JLaBella@publicpower.org

Editorial Director
Robert Varela
202/467-2947
RVarela@publicpower.org

Editor, Public Power Daily
Jeannine Anderson
202/467-2977
JAnderson@publicpower.org

Communications Assistant
Fallon W. Forbush
202/467-2958
FForbush@publicpower.org

Manager, Integrated Media 
David L. Blaylock
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DBlaylock@publicpower.org

Integrated Media Editor 
Laura D’Alessandro 
202/467-2955 
LDAlessandro@publicpower.org