What is SEC SBSR Reporting?
Firms trading OTC derivatives (swaps) in the US must report details to a registered Swap Data Repository (SDR). The reporting obligations include:
- Part 43 real-time reporting to provide transparency on pricing to the market
- Part 45 transaction reporting to allow regulators to monitor for systemic risk.
The Securities Exchange Commission (SEC) oversee the reporting of OTC derivative swaps related to ‘single name’ Credit and Equity securities under the Security Based Swap Reporting (SBSR) portion of the Dodd Frank Act (DFA).
SEC SBSR was originally expected to commence in 2015 but was delayed for several years due to technical and legal issues. SEC Part 45 transaction reporting commenced on 8 November 2021.
SEC Part 43 real-time (public price dissemination – PPD) reporting begins on 14 February 2022.
* All other Credit & Equity transactions fall under CFTC reporting rules.