Swap Execution Facility Order Book Requirement for Permitted Transactions

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission 17 CFR Part 37 RIN 3038-AF79 AGENCY: Commodity Futures Trading Commission. ACTION: Notice of proposed rulemaking. SUMMARY: The Commodity Futures Trading Commission (“Commission” or “CFTC”) proposes to amend its regulations for swap execution facilities (“SEFs”) to remove the requirement for SEFs to offer an order book for swap transactions that are not subject to trade execution requirement under section 2(h)(8) of the Commodity Exchange Act (“CEA” or “Act”). These types of swap transactions are referred to in the Commission's regulations as “permitted transactions.” DATES: Comments must be received on or before September 25, 2026. ADDRESSES: You may submit comments, specifically referencing “Swap Execution Facility Order Book Requirement for Permitted Transactions” and RIN 3038-AF79, by any of the following methods: Regulations.gov: Go to https://www.regulations.gov and press the “Search” button, then proceed as follows: 1. Under Refine Documents Results—check the box to “Only show documents open for comment”; 2. Under Agency—select “See More” and check the box for “Commodity Futures Trading Commission,” then press the Apply button; 3. Identify this proposal in the list of CFTC documents open for comment, press the “Comment” button to open the submission form, and follow the instructio…