ISDA seeks offers to set up OTC commodity derivatives swap data repository

Washington (Platts)–25Mar2011/1223 pm EDT/1623 GMT

The International Swaps and Derivatives Association on Friday issued a request for proposals from vendors to set up a swap data repository for over-the-counter commodity derivatives, including energy swaps.

The US Commodity Futures Trading Commission has proposed rules on reporting swap transaction data to SDRs as part of the mandates under the Dodd-Frank Act.

While the rules are still subject to a final vote, several firms, including IntercontinentalExchange, CME Group and the Depository Trust & Clearing Corp. are working on setting up SDRs for energy OTC derivatives.

Since 2008, ISDA has worked to establish SDRs for credit default swaps, equity swaps and interest rates swaps, according to Cesaltine Gregorio, an ISDA spokeswoman.

ISDA wants the ultimately chosen vendor to have a preliminary version of its SDR for commodity OTC derivatives set up by January 1, 2012, according to the RFP. Proposals are due to ISDA by April 25.

“A key requirement for the solution is rapid implementation,” ISDA said in the RFP.

–Brian Scheid,


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