In a letter submitted to the CFTC today, FIA PTG supported the Commission’s proposal to prohibit the practice of post-trade name give-up for swaps that are anonymously executed on a Swap Execution Facility and are intended to be cleared. FIA PTG said that they believe that post-trade name give-up is appropriate for uncleared swaps, as trading counterparties need to manage counterparty credit risk, however, they see no legitimate reason to disclose counterparty names post-execution for anonymously executed cleared swaps, as trading counterparties face the Central Counterparty which mitigates any credit, operational, or legal exposures to each other.
