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e-CFR data is current as of March 4, 2021

Amendment


17 CFR--PART 45

View Printed Federal Register page 85 FR 75562 in PDF format.

Amendment(s) published November 25, 2020, in 85 FR 75562

Effective Dates: Jan. 25, 2021

6. Amend §45.5 by:

a. Revising the section heading and paragraphs (a)(1)(i); (b)(1)(i); (b)(2)(ii); (c) introductory text; (c)(1) introductory text; (c)(1)(i); (d) introductory text; (d)(1)(i);

b. In the table below, for each paragraph indicated in the left column, remove the text indicated in the middle column from wherever it appears, and add in its place the text indicated in the right column:

ParagraphRemoveAdd
introductory textswap subject to the jurisdiction of the Commissionswap.
introductory text(a) through (f)(a) through (h).
(a)(1) introductory textsingle data fieldsingle data element with a maximum length of 52 characters.
(b) paragraph heading and introductory textswap dealer or major swap participantfinancial entity.
(b)(1) introductory texttransmission of datatransmission of swap data.
(b)(1) introductory textsingle data fieldsingle data element with a maximum length of 52 characters.
(b)(1)(ii)swap dealer or major swap participantreporting counterparty.
(d)(1) introductory textsingle data fieldsingle data element with a maximum length of 52 characters.
(e)(1) introductory text(a) through (c) of this section(a) through (d) of this section, as applicable.
(e)(2)(i)questionquestion.
(e)(2)(ii)agentagent; and.

c. Revising paragraph (f) and adding paragraphs (g) and (h); and

d. Removing all instances of “unique swap identifier” and “unique swap identifiers” and adding in their place “unique transaction identifier” and “unique transaction identifiers”, respectively.

The revisions and additions read as follows:

§45.5   Unique transaction identifiers.

*   *   *   *   *

(a) *  *  *

(1) *  *  *

(i) The legal entity identifier of the swap execution facility or designated contract market; and

*   *   *   *   *

(b) *  *  *

(1) *  *  *

(i) The legal entity identifier of the reporting counterparty; and

*   *   *   *   *

(2) *  *  *

(ii) To the non-reporting counterparty to the swap, no later than the applicable deadline in §45.3(b) for reporting required swap creation data; and

*   *   *   *   *

(c) Off-facility swaps with a non-SD/MSP/DCO reporting counterparty that is not a financial entity. For each off-facility swap for which the reporting counterparty is a non-SD/MSP/DCO counterparty that is not a financial entity, the reporting counterparty shall either: Create and transmit a unique transaction identifier as provided in paragraphs (b)(1) and (2) of this section; or request that the swap data repository to which required swap creation data will be reported create and transmit a unique transaction identifier as provided in paragraphs (c)(1) and (2) of this section.

(1) Creation. The swap data repository shall generate and assign a unique transaction identifier as soon as technologically practicable following receipt of the request from the reporting counterparty. The unique transaction identifier shall consist of a single data element with a maximum length of 52 characters that contains two components:

(i) The legal entity identifier of the swap data repository; and

*   *   *   *   *

(d) Off-facility swaps with a derivatives clearing organization reporting counterparty. For each off-facility swap where the reporting counterparty is a derivatives clearing organization, the reporting counterparty shall create and transmit a unique transaction identifier as provided in paragraphs (d)(1) and (2) of this section.

(1) *  *  *

(i) The legal entity identifier of the derivatives clearing organization; and

*   *   *   *   *

(f) Use. Each registered entity and swap counterparty shall include the unique transaction identifier for a swap in all of its records and all of its swap data reporting concerning that swap, from the time it creates or receives the unique transaction identifier as provided in this section, throughout the existence of the swap and for as long as any records are required by the Act or Commission regulations to be kept concerning the swap, regardless of any life cycle events concerning the swap, including, without limitation, any changes with respect to the counterparties to the swap.

(g) Third-party service provider. If a registered entity or reporting counterparty required by this part to report required swap creation data or required swap continuation data contracts with a third-party service provider to facilitate reporting pursuant to §45.9, the registered entity or reporting counterparty shall ensure that such third-party service provider creates and transmits the unique transaction identifier as otherwise required for such category of swap by paragraphs (a) through (e) of this section. The unique transaction identifier shall consist of a single data element with a maximum length of 52 characters that contains two components:

(1) The legal entity identifier of the third-party service provider; and

(2) An alphanumeric code generated and assigned to that swap by the automated systems of the third-party service provider, which shall be unique with respect to all such codes generated and assigned by that third-party service provider.

(h) Cross-jurisdictional swaps. Notwithstanding the provisions of paragraphs (a) through (g) of this section, if a swap is also reportable to one or more other jurisdictions with a regulatory reporting deadline earlier than the deadline set forth in §45.3 or in part 43 of this chapter, the same unique transaction identifier generated according to the rules of the jurisdiction with the earliest regulatory reporting deadline shall be transmitted pursuant to paragraphs (a) through (g) of this section and used in all recordkeeping and all swap data reporting pursuant to this part.

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