Giancarlo undercuts SDRs' push for dual-sided reporting

CFTC chairman says US single-sided reporting regime is ‘the better approach’

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CFTC chairman Chris Giancarlo

The US Commodity Futures Trading Commission will not require both sides of a swap transaction to submit reports to a swap data repository despite pressure from SDRs to move to a dual-sided reporting model.

CFTC chairman Chris Giancarlo said that while the commission is aiming to harmonise various aspects of its SDR rules with overseas regulators, it will not be following the European approach on dual-sided reporting.

The CFTC’s “rules for swaps reporting may be different than those adopted by

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