17 CFR 23.608
§ 23.608 Restrictions on counterparty clearing relationships.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
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- Citation
- 17 CFR 23.608, § 23.608 Restrictions on counterparty clearing relationships, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/66932
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Full text
No swap dealer or major swap participant entering into a swap to be submitted for clearing with a counterparty that is a customer of a futures commission merchant shall enter into an arrangement that:
(a) Discloses to the futures commission merchant or any swap dealer or major swap participant the identity of a customer's original executing counterparty;
(b) Limits the number of counterparties with whom a customer may enter into a trade;
(c) Restricts the size of the position a customer may take with any individual counterparty, apart from an overall limit for all positions held by the customer with the swap dealer or major swap participant;
(d) Impairs a customer's access to execution of a trade on terms that have a reasonable relationship to the best terms available; or
(e) Prevents compliance with the timeframes set forth in § 1.74(b), § 23.610(b), or § 39.12(b)(7) of this chapter.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.