SEC Approves Registration of First Security-Based Swap Data Repository; Sets the First Compliance Date for Regulation SBSR

The Securities and Exchange Commission today announced that it has approved the registration of its first security-based swap data repository (SDR). With today’s registration of DTCC Data Repository (U.S.), LLC (DDR), the security-based swap market now has the first SDR that can accept transaction reports. DDR intends to operate as a registered SDR for security-based swap transactions in the equity, credit, and interest rate derivatives asset classes. "Implementing Regulation SBSR fulfills an important mandate under the Dodd-Frank Act," said SEC Chair Gary Gensler. "A centralized database of security-based swap transactions is an essential reform to better understanding these markets, for surveillance and for enforcement. The data repository also will facilitate public reporting of security-based swap transactions, bringing much-needed transparency to these markets." Today's SEC action sets Nov.