All swap data for a given swap must be reported to a single swap data repository, which shall be the swap data repository to which the first report of required swap creation data is made pursuant to this part.
(a) Swaps executed on a swap execution facility or designated contract market. To ensure that all swap data for a swap executed on or pursuant to the rules of a swap execution facility or designated contract market is reported to a single swap data repository:
(1) The swap execution facility or designated contract market that reports required swap creation data as required by Sec. 45.3 shall report all such data to a single swap data repository. As soon as technologically practicable after execution, the swap execution facility or designated contract market shall transmit to both counterparties to the swap, and to the derivatives clearing organization, if any, that will clear the swap, both:
(i) The identity of the swap data repository to which required swap creation data is reported by the swap execution facility or designated contract market; and
(ii) The unique swap identifier for the swap, created pursuant to Sec. 45.5.
(2) Thereafter, all required swap creation data and all required swap continuation data reported for the swap reported by any registered entity or counterparty shall be reported to that same swap data repository (or to its successor in the event that it ceases to operate, as provided in part 49 of this chapter).
(b) Off-facility swaps with a swap dealer or major swap participant reporting counterparty. To ensure that all swap data for such swaps is reported to a single swap data repository:
(1) If the reporting counterparty reports primary economic terms data to a swap data repository as required by Sec. 45.3:
(i) The reporting counterparty shall report primary economic terms data to a single swap data repository.
(ii) As soon as technologically practicable after execution, but no later than as required pursuant to Sec. 45.3, the reporting counterparty shall transmit to the other counterparty to the swap both the identity of the swap data repository to which primary economic terms data is reported by the reporting counterparty, and the unique swap identifier for the swap created pursuant to Sec. 45.5.
(iii) If the swap will be cleared, the reporting counterparty shall transmit to the derivatives clearing organization at the time the swap is submitted for clearing both the identity of the swap data repository to which primary economic terms data is reported by the reporting counterparty, and the unique swap identifier for the swap created pursuant to Sec. 45.5.
(2) If the reporting counterparty is excused from reporting primary economic terms data as provided in Sec. 45.3(b) or (c):
(i) Paragraph (b)(1) of this section shall not apply.
(ii) At the time the swap is submitted for clearing, the reporting counterparty shall transmit to the derivatives clearing organization the unique swap identifier for the swap created pursuant to Sec. 45.5, and notify the derivatives clearing organization that the reporting counterparty has not reported any required swap creation data for the swap to a swap data repository.
(iii) The derivatives clearing organization shall report all required swap creation data for the swap to a single swap data repository. As soon as technologically practicable after clearing, the derivatives clearing organization shall transmit to both counterparties to the swap the identity of the swap data repository to which required swap creation data is reported by the derivatives clearing organization, and shall transmit to the non-reporting counterparty the unique swap identifier for the swap.
(3) Thereafter, all required swap creation data and all required swap continuation data reported for the swap, by any registered entity or counterparty, shall be reported to the swap data repository to which swap data has been reported pursuant to paragraph (b)(1) or (b)(2) of this section (or to its successor in the event that it ceases to operate, as provided in part 49 of this chapter).
(c) Off-facility swaps with a non-SD/MSP reporting counterparty. To ensure that all swap data for such swaps is reported to a single swap data repository:
(1) If the reporting counterparty reports primary economic terms data to a swap data repository as required by Sec. 45.3:
(i) The reporting counterparty shall report primary economic terms data to a single swap data repository.
(ii) As soon as technologically practicable after execution, but no later than as required pursuant to Sec. 45.3, the reporting counterparty shall transmit to the other counterparty to the swap the identity of the swap data repository to which primary economic terms data was reported by the reporting counterparty.
(iii) If the swap will be cleared, the reporting counterparty shall transmit to the derivatives clearing organization at the time the swap is submitted for clearing the identity of the swap data repository to which primary economic terms data was reported by the reporting counterparty.
(2) If the reporting counterparty will be excused from reporting primary economic terms data as provided in Sec. 45.3(b) or (c):
(i) Paragraph (c)(1) of this section shall not apply.
(ii) At the time the swap is submitted for clearing, the reporting counterparty shall notify the derivatives clearing organization that the reporting counterparty has not reported any required swap creation data for the swap to a swap data repository.
(iii) The derivatives clearing organization shall report all required swap creation data for the swap to a single swap data repository. As soon as technologically practicable after clearing, the derivatives clearing organization shall transmit to both counterparties to the swap the identity of the swap data repository to which required swap creation data is reported by the derivatives clearing organization.
(3) The swap data repository to which the swap is reported as provided in paragraph (c) of this section shall transmit the unique swap identifier created pursuant to Sec. 45.5 to both counterparties and to the derivatives clearing organization, if any, as soon as technologically practicable after creation of the unique swap identifier.
(4) Thereafter, all required swap creation data and all required swap continuation data reported for the swap, by any registered entity or counterparty, shall be reported to the swap data repository to which swap data has been reported pursuant to paragraph (c)(1) or (2) of this section (or to its successor in the event that it ceases to operate, as provided in part 49 of this chapter).