How do I report and monitor clearing exemptions/exceptions?

How do I file my clearing exemptions/exceptions?

KOR has provided Clients with a User Interface to submit and review Clearing Exemption/Elections as defined in CFTC Regulation §50.50(b) and §50.52(c) annually per CFTC Regulation §50.52(d).

How do I report my clearing exemptions/exceptions on trades?

When a swap is mandatory clearable, but not cleared, then the parties that have elected a clearing exemption/election are required to indicate which parties are electing what exemption per the KOR Technical Specifications. using the fields [Clearing exceptions and exemptions - Counterparty 1]and [Clearing exceptions and exemptions - Counterparty 2].

How do I monitor my clearing exemptions/exceptions on trades?

KOR SDR systems identify, aggregate, and sort swaps exempt from clearing.

Clients and the Commission have the ability to query and filter swaps based on the reported fields “Clearing exceptions and exemptions - Counterparty 1" and “Clearing exceptions and exemptions - Counterparty 2” per the list of values provided in the CFTC Technical Specification. These fields must be populated on all trades which are not cleared.

To do this, Clients should use the report:

Clearing Exemption Election Report