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Daily Mark and Clearing Disclosures

  • Daily mark for cleared swaps (CFTC Rule 23.431(d)(1). For cleared swaps, the dealer has to disclose that the counterparty has the right to receive the daily mark from the DCO.

  • Clearing disclosures (CFTC Rule 23.432). CFTC Rule 23.432 requires that: (a) for swaps subject to the mandatory clearing requirement, dealers must disclose that the counterparty has the sole right to choose the DCO upon which the swap is cleared; and (b) for swaps not subject to mandatory clearing, dealers must that the counterparty may elect to have the swap cleared and would have sole discretion in choosing the DCO.