Give up trade swap
Proposed Rule: Prohibition on Post-Trade Name Give-Up on Swap Execution Facilities. The Commission unanimously approved a proposal to amend Part 37 of CFTC’s regulations to prohibit “post-trade name give-up” practices for swaps that are anonymously executed on a Swap Execution Facility (SEF) and are intended to be cleared. The Commission issued the Name Give-Up Release to seek public comment on the practice of post-trade name give-up on SEFs for swaps intended to be cleared. As described in the release, some SEFs facilitate this practice by disclosing the identities of swap counterparties to one another after a trade is matched anonymously. Post-trade name give-up refers to the practice of disclosing the identity of each swap counterparty to the other after a trade has been matched anonymously. In the case of uncleared swaps, post-trade name give-up enables a market participant to perform a credit-check on its counterparty prior to finalizing a trade. The platform, with over eight million users worldwide, is built around giving away unwanted stuff. The app also works with similar services including Freegle, ReUseIt and Full Circles. Available at iTunes and Google Play. These five apps to swap, share and sell your extra stuff just scratch the surface. registered will have a Give-Up trade registered with a trade type G (Give-Up) and opposite sign to the original Transaction. The Account of the Clearing Broker will have a trade type G (Give-Up) registered on the same terms as the Transaction on which the Give-up has been requested and accepted. The Royal Bank of Scotland has booked the first interest rate swap give-up trades on SwapsWire’s PBWire platform, acting as prime broker for a large Connecticut-based hedge fund. In a give-up In the event a swap order is placed with an introducing broker, the introducing broker will be responsible for executing the order on a DCM or a SEF on behalf of the customer and then, pursuant to a give-up arrangement, direct the trade for clearing to the customer’s account at an FCM that is a clearing broker.
The Commission issued the Name Give-Up Release to seek public comment on the practice of post-trade name give-up on SEFs for swaps intended to be cleared. As described in the release, some SEFs facilitate this practice by disclosing the identities of swap counterparties to one another after a trade is matched anonymously.
The American Bankers Association (ABA) appreciates the opportunity to provide the Commodity Futures Trading Commission (Commission) with comments on the Commission’s proposed rule (the Proposed Rule) relating to post-trade name give-up (PTNGU) on Commission-registered swap execution facilities (SEFs). The Name Give-Up Request for Comment was published in the Federal Register on November 30, 2018, with a 60-day comment period closing on January 29, 2019 (83 FR 61571). On November 6, 2018, the Commission also approved a notice of proposed rulemaking regarding swap execution facilities and the trade execution requirement (the “SEF NPRM”). Post-Trade Name Give-Up on SEFs The CFTC is proposing a rule to prohibit ‘‘post-trade name give-up’’ practices related to trading on swap execution facilities By Give-Up Release . The CFTC requested comments regarding the use of the “post-trade name give-up” practice on SEFs for swaps that are intended to be cleared. 10 Under this practice, the identity of each swap counterparty is disclosed to the other after a trade has been matched anonymously on a SEF.
In general, Give-Up Agreements were designed to detail the obligations under a give-up arrangement and clearly delineate the parties to the execution and clearing relationship. The key to the successful and accurate Give-Up Agreement is that the parties to the Agreement readily match the operational trade flow, making it easier for both
The American Bankers Association (ABA) appreciates the opportunity to provide the Commodity Futures Trading Commission (Commission) with comments on the Commission’s proposed rule (the Proposed Rule) relating to post-trade name give-up (PTNGU) on Commission-registered swap execution facilities (SEFs).
In the event a swap order is placed with an introducing broker, the introducing broker will be responsible for executing the order on a DCM or a SEF on behalf of the customer and then, pursuant to a give-up arrangement, direct the trade for clearing to the customer’s account at an FCM that is a clearing broker.
A Give-Up System can meet demands of many investors who want to use several Transaction Participants for placing orders and to choose the Transaction Participant who offers the best condition for execution. In addition, under the Give-Up System, a customer, while additionally having benefits from In the event a swap order is placed with an introducing broker, the introducing broker will be responsible for executing the order on a DCM or a SEF on behalf of the customer and then, pursuant to a give-up arrangement, direct the trade for clearing to the customer’s account at an FCM that is a clearing broker.
A Give-Up System can meet demands of many investors who want to use several Transaction Participants for placing orders and to choose the Transaction Participant who offers the best condition for execution. In addition, under the Give-Up System, a customer, while additionally having benefits from
In a give-up agreement, an executing broker places a commodity or security trade on behalf of another broker. It is called a "give up" because the broker executing the trade gives up credit for the Proposed Rule: Prohibition on Post-Trade Name Give-Up on Swap Execution Facilities. The Commission unanimously approved a proposal to amend Part 37 of CFTC’s regulations to prohibit “post-trade name give-up” practices for swaps that are anonymously executed on a Swap Execution Facility (SEF) and are intended to be cleared. The Commission issued the Name Give-Up Release to seek public comment on the practice of post-trade name give-up on SEFs for swaps intended to be cleared. As described in the release, some SEFs facilitate this practice by disclosing the identities of swap counterparties to one another after a trade is matched anonymously. Post-trade name give-up refers to the practice of disclosing the identity of each swap counterparty to the other after a trade has been matched anonymously. In the case of uncleared swaps, post-trade name give-up enables a market participant to perform a credit-check on its counterparty prior to finalizing a trade. The platform, with over eight million users worldwide, is built around giving away unwanted stuff. The app also works with similar services including Freegle, ReUseIt and Full Circles. Available at iTunes and Google Play. These five apps to swap, share and sell your extra stuff just scratch the surface.
registered will have a Give-Up trade registered with a trade type G (Give-Up) and opposite sign to the original Transaction. The Account of the Clearing Broker will have a trade type G (Give-Up) registered on the same terms as the Transaction on which the Give-up has been requested and accepted. The Royal Bank of Scotland has booked the first interest rate swap give-up trades on SwapsWire’s PBWire platform, acting as prime broker for a large Connecticut-based hedge fund. In a give-up In the event a swap order is placed with an introducing broker, the introducing broker will be responsible for executing the order on a DCM or a SEF on behalf of the customer and then, pursuant to a give-up arrangement, direct the trade for clearing to the customer’s account at an FCM that is a clearing broker.