All swaps, whether or not cleared, must be reported to a registered SDR1. The deadline for reporting to an SDR depends on the reporter. For a swap executed on a SEF or DCM, or reported by a swap dealer, major swap participant or derivatives clearing organization, it is the end of the next business day after execution. For any other reporter, it is the end of the second business day2.

The data on a swap continues to be reported to the one SDR that first received a report3. An SDR also handles the public dissemination of transaction and price data. The SDR that receives a report publishes the data subject to public reporting as soon as technologically practicable after execution4.

In Japan's Financial Instruments and Exchange Act, the institution that collects and keeps transaction data is called a trade repository.

Notes

  1. 7 U.S.C. § 2(a)(13)(G). ↩

  2. 17 CFR § 45.3(a) and (b) (eCFR, as of October 1, 2026). ↩

  3. 17 CFR § 45.10 (eCFR, as of October 1, 2026). ↩

  4. 17 CFR § 43.3(a)(1) and (b)(1) (eCFR, as of October 1, 2026). ↩