The CFTC will keep the swap dealer de minimis threshold ( CFTC Rule 1.3(ggg)(4)) at $8 billion until December 31, 2019. CFTC Chair J. Christopher Giancarlo previously announced that the CFTC would take action to delay the termination date of the current threshold.
The de minimis threshold was scheduled to transition from $8 billion to $3 billion at the end of 2018 (delayed from the original scheduled transition at the end of 2017). In the Order establishing the new termination date, the CFTC explained that the new date was established in order to (i) allow more time for the analysis of swap data, (ii) remove uncertainty for firms that may be subject to registration in accordance with a new threshold, and (iii) give the new Commissioners ( Rostin Behnam and Brian Quintenz) time to familiarize themselves with issues relevant to the threshold.
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