---
kind: "section"
citation: "17 C.F.R. § 49.19"
title: "17"
number: "49.19"
heading: "Core principles applicable to swap data repositories."
url: "https://uscodex.org/cfr/17/49.19"
---

# §49.19. Core principles applicable to swap data repositories.

- (a) **Compliance with core principles.** To be registered, and maintain registration, a swap data repository shall comply with the core principles as described in this section. Unless otherwise determined by the Commission by rule or regulation, a swap data repository shall have reasonable discretion in establishing the manner in which the swap data repository complies with the core principles described in this section.
- (b) **Antitrust considerations (Core Principle 1).** Unless necessary or appropriate to achieve the purposes of the Act, a swap data repository shall avoid adopting any rule or taking any action that results in any unreasonable restraint of trade; or imposing any material anticompetitive burden on trading, clearing or reporting swaps.
- (c) **Governance arrangements (Core Principle 2).** Swap data repositories shall establish governance arrangements as set forth in [§ 49.20](/cfr/17/49.20.md).
- (d) **Conflicts of interest (Core Principle 3).** Swap data repositories shall manage and minimize conflicts of interest and establish processes for resolving such conflicts of interest as set forth in [§ 49.21](/cfr/17/49.21.md).
- (e) **Additional duties (Core Principle 4).** Swap data repositories shall also comply with the following additional duties:
  - (1) **Financial resources.** Swap data repositories shall maintain sufficient financial resources as set forth in [§ 49.25](/cfr/17/49.25.md);
  - (2) **Disclosure requirements of swap data repositories.** Swap data repositories shall furnish an appropriate disclosure document setting forth the risks and costs of swap data repository services as detailed in [§ 49.26](/cfr/17/49.26.md); and
  - (3) **Access and Fees.** Swap data repositories shall adhere to Commission requirements regarding fair and open access and the charging of any fees, dues or other similar type charges as detailed in [§ 49.27](/cfr/17/49.27.md).

## Notes

### Amendments

[76 FR 54575, Sept. 1, 2011, as amended at 85 FR 75661, Nov. 25, 2020]

### Authority

Authority: 7 U.S.C. 1a, 2(a), 6r, 12a, and 24a, as amended by Title VII of the Wall Street Reform and Consumer Protection Act of 2010, Pub. L. 111-203, 124 Stat. 1376 (Jul. 21, 2010), unless otherwise noted.

### Source

Source: 76 FR 54575, Sept. 1, 2011, unless otherwise noted.

### Amendments

[76 FR 54575, Sept. 1, 2011, as amended at 85 FR 75661, Nov. 25, 2020]