The Securities and Exchange Commission (SEC) has proposed new rules for swap trades documentation, Reuters reports. The U.S. securities regulator’s new proposal will be for dealers offering security-linked swaps, which will require them to offer their counterparties with documentation detailing key information about the trade. As per the new rules, transactions will need to be processed electronically if possible that will decrease back-office paperwork. The plan will require dealers and major traders, such as Morgan Stanley and Goldman Sachs, to give a trade acknowledgment to their counterparties within time windows.

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