Tag: SEF

March 05, 2014 BY Andrew Saks-McLeod

Forthcoming CFTC Roundtable Set For April 3 To Clarify Dodd-Frank Act End User Issues

CFTC set to hold roundtable including discussion panels on three commonly-requested topics surrounding the Dodd-Frank Act following requests for clarification by commercial end users 2013 was most certainly a year of regulatory wranglings, especially among the two North American authorities responsible for overseeing the electronic trading activity which takes place under its jurisdiction. In the…

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November 03, 2013 BY Gerald Segal

CFTC delays SEF enforcement one (additional) month to November 29

The US Government shutdown, combined with industry pressure, leads the CFTC to be more flexible with SEFs. After previously giving SEFs a month extension to November 1 before a lot of the SEF rules kick in, the CFTC has now granted the SEFs an additional month (to November 29) before certain of their enforcement responsibilities…

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September 14, 2013 BY Gerald Segal

SEF licenses approved for State Street, GFI, and MarketAxess

State Street, GFI, and MarketAxess join Tradeweb and Bloomberg as the first SEFs granted. The CFTC has announced the granting of three more SEF licenses to State Street (via subsidiary SwapEx LLC), GFI, and MarketAxess. The three new licensees join Tradeweb Global (which actually received two separate licenses), and Bloomberg, as the only firms to successfully receive…

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September 09, 2013 BY Gerald Segal

Second (and third) SEF registrations approved for Tradeweb

Tradeweb Joins Bloomberg as the only granted SEFs, although several other applications are in process. The CFTC has announced the granting of an SEF license to Tradeweb Global (which actually received two separate licenses), making Tradeweb the second company, after Bloomberg, to successfully receive the designation. SEFs are the new trading venues mandated under the…

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August 06, 2013 BY Gerald Segal

Will SEF rules drive Forex ECN volumes to single dealer platforms?

Multi-dealer platforms (like ECNs) have to register as SEFs -- but clients could choose to use other venues and avoid extra legal work. An interesting article in Risk Magazine provides a good overview of the concerns several of the leading Forex ECNs have as Dodd-Frank SEF rules come into effect this October. Essentially, multi-dealer platform operators…

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August 05, 2013 BY Gerald Segal

Integral files SEF application with the CFTC

Will allow Integral to offer a regulatory-compliant FX trading platform, delivered as a service. Forex trading solutions and services provider Integral has announced that it has filed an application with the CFTC to launch a Swap Execution Facility (SEF) under the CFTC's recently announced SEF rules issued pursuant to the U.S. Dodd-Frank Act. Pending approval, Integral will…

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