If finalized the rule would:
- Establish requirements for the documentation between an FCM and its customers and between a swap dealer and its counterparties;
- Set standards for the timely processing of trades that minimize the time between submission and acceptance or rejection of trades for clearing;
- Require bunched orders for swaps executed as a block to be immediately accepted into clearing and allocated into individual accounts later in the day; and
- Strengthen the risk management procedures of clearing members to enhance market integrity.
Read more about the meeting and rule.