Page:United States Statutes at Large Volume 124.djvu/1832

124 STAT. 1806 PUBLIC LAW 111–203—JULY 21, 2010 (vi) swaps; (vii) security-based swaps; (viii) swap agreements; (ix) security-based swap agreements; (x) foreign exchange contracts; (xi) financial derivatives contracts; and (xii) any similar transaction that the Council deter- mines to be a financial transaction for purposes of this title. (C) INCLUDED ACTIVITIES.—When conducted with respect to a financial transaction, payment, clearing, and settlement activities may include— (i) the calculation and communication of unsettled financial transactions between counterparties; (ii) the netting of transactions; (iii) provision and maintenance of trade, contract, or instrument information; (iv) the management of risks and activities associ- ated with continuing financial transactions; (v) transmittal and storage of payment instruc- tions; (vi) the movement of funds; (vii) the final settlement of financial transactions; and (viii) other similar functions that the Council may determine. (D) EXCLUSION.—Payment, clearing, and settlement activities shall not include public reporting of swap trans- action data under section 727 or 763(i) of the Wall Street Transparency and Accountability Act of 2010. (8) SUPERVISORY AGENCY.— (A) IN GENERAL.—The term ‘‘Supervisory Agency’’ means the Federal agency that has primary jurisdiction over a designated financial market utility under Federal banking, securities, or commodity futures laws, as follows: (i) The Securities and Exchange Commission, with respect to a designated financial market utility that is a clearing agency registered with the Securities and Exchange Commission. (ii) The Commodity Futures Trading Commission, with respect to a designated financial market utility that is a derivatives clearing organization registered with the Commodity Futures Trading Commission. (iii) The appropriate Federal banking agency, with respect to a designated financial market utility that is an institution described in section 3(q) of the Federal Deposit Insurance Act. (iv) The Board of Governors, with respect to a designated financial market utility that is otherwise not subject to the jurisdiction of any agency listed in clauses (i), (ii), and (iii). (B) MULTIPLE AGENCY JURISDICTION.—If a designated financial market utility is subject to the jurisdictional supervision of more than 1 agency listed in subparagraph (A), then such agencies should agree on 1 agency to act as the Supervisory Agency, and if such agencies cannot agree on which agency has primary jurisdiction, the Council