For trade reporting it is proposed that a broad-ranging determination will be made in the first quarter of 2013 that will require the reporting of all five derivative classes (i.e. interest rate, FX, credit, equity and commodity) to a licensed trade repository where it is available. There would be no obligation to report where a licensed trade repository is not available.
The obligations will be phased in and exceptions will be provided as outlined below.
2. Do you have comments on the proposal to mandate a broad range of derivatives subject to the phase-in and exceptions outlined below? Or is there another option you prefer? If so why?