Page:United States Statutes at Large Volume 124.djvu/1741

 124 STAT. 1715 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(C) have the capacity to carry out such international information-sharing agreements as the Commission may require. ‘‘(6) POSITION LIMITS OR ACCOUNTABILITY.— ‘‘(A) IN GENERAL.—To reduce the potential threat of market manipulation or congestion, especially during trading in the delivery month, a swap execution facility that is a trading facility shall adopt for each of the contracts of the facility, as is necessary and appropriate, position limitations or position accountability for speculators. ‘‘(B) POSITION LIMITS.—For any contract that is subject to a position limitation established by the Commission pursuant to section 4a(a), the swap execution facility shall— ‘‘(i) set its position limitation at a level no higher than the Commission limitation; and ‘‘(ii) monitor positions established on or through the swap execution facility for compliance with the limit set by the Commission and the limit, if any, set by the swap execution facility. ‘‘(7) FINANCIAL INTEGRITY OF TRANSACTIONS.—The swap execution facility shall establish and enforce rules and proce- dures for ensuring the financial integrity of swaps entered on or through the facilities of the swap execution facility, including the clearance and settlement of the swaps pursuant to section 2(h)(1). ‘‘(8) EMERGENCY AUTHORITY.—The swap execution facility shall adopt rules to provide for the exercise of emergency authority, in consultation or cooperation with the Commission, as is necessary and appropriate, including the authority to liquidate or transfer open positions in any swap or to suspend or curtail trading in a swap. ‘‘(9) TIMELY PUBLICATION OF TRADING INFORMATION.— ‘‘(A) IN GENERAL.—The swap execution facility shall make public timely information on price, trading volume, and other trading data on swaps to the extent prescribed by the Commission. ‘‘(B) CAPACITY OF SWAP EXECUTION FACILITY.—The swap execution facility shall be required to have the capacity to electronically capture and transmit trade information with respect to transactions executed on the facility. ‘‘(10) RECORDKEEPING AND REPORTING.— ‘‘(A) IN GENERAL.—A swap execution facility shall— ‘‘(i) maintain records of all activities relating to the business of the facility, including a complete audit trail, in a form and manner acceptable to the Commis- sion for a period of 5 years; ‘‘(ii) report to the Commission, in a form and manner acceptable to the Commission, such informa- tion as the Commission determines to be necessary or appropriate for the Commission to perform the duties of the Commission under this Act; and ‘‘(iii) shall keep any such records relating to swaps defined in section 1a(47)(A)(v) open to inspection and examination by the Securities and Exchange Commis- sion.’’ Time period. Public information. Procedures. Contracts.