H.R. 2586 · 112th Congress
Swap Execution Facility Clarification Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GarrettSponsor8 cosponsors · 3 D, 5 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality,…
What it does: CRS summary · Reported to House amended, Part II · Feb 8, 2012
Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality, (2) display or delay bids or offers for any period of time, (3) limit the means of interstate commerce used by market participants to enter into and execute swap transactions on the trading system or platform, or (4) require bids or offers on one trading system or platform operated by the swap execution facility to interact with bids or offers on another trading system or platform operated by that facility.
Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC), in interpreting or defining a "security-based swap execution facility," from requiring such a facility to do any of the things the CFTC is prohibited by this Act from requiring, with the exception that the SEC may not require such a facility to limit the means of interstate commerce used by market participants to enter into and execute security-based swap transactions on the method of trading functionality.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Swap Execution Facility Clarification Act
Latest action (Feb 8, 2012): Placed on the Union Calendar, Calendar No. 266.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 19, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.