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Screenshot of a breaking news alert e-mail from Q2 2017
NEX Group plc (LON: NXG) formerly known as ICAP plc, a UK-based business focused on electronic markets and post trade business, announced today that it has received approval from the Commodity Futures Trading Commission (CFTC) for NEX SEF Limited (NEX SEF), a new Swap Execution Facility (SEF).
NEX SEF will allow customers to trade Non-Deliverable Forwards (NDFs) on the EBS Market platform.
The new SEF is expected to have on-boarded customers and be live for trading in the second quarter of financial year 2017/2018.
NEX SEF will serve as a platform that can be used to launch additional products in the future.
Seth Johnson, CEO of NEX Markets, said:
NEX is committed to providing our customers with a full range of market-leading execution facilities to ensure that they can trade in whatever environment is most appropriate to them based on their regulatory requirements or specific customer needs. NEX SEF offers regulatory compliant and technically efficient trading of NDFs.
EBS is part of NEX Markets, providing electronic trading technology and services to the foreign exchange market.