
US airline wins Dodd-Frank real-time reporting delay
Southwest Airlines no-action letter could lead to wider relief

A no-action letter issued by the US Commodity Futures Trading Commission (CFTC) to Texas-based Southwest Airlines on November 6 may herald a broader shift in the CFTC's policy of requiring commodity derivatives end-users to report their swap trades in real time.
The letter effectively exempts Southwest from the requirement that all swap trades must be reported within a matter of hours to swap data repositories (SDRs) – giant warehouses of data designed to give regulators an insight into the
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