CFTC relaxes certain SEF reporting rules, to incentivize SEF trading LeapRate

May 23, 2014 BY Gerald Segal

CFTC relaxes certain SEF reporting rules, to incentivize SEF trading

It seems as though trading volumes on Swap Execution Facilities, or SEFs, are not what regulators initially anticipated. To encourage more SEF trading, CFTC Acting Chairman Mark Wetjen announced three actions to (among other things) promote end-user trading on (SEFs), as well as on designated contract markets (DCMs). What are SEFs? SEFs are licensed trading venues,…

October 31, 2013 BY Gerald Segal

Australia's Yieldbroker given (another) month exception from SEF requirements

CFTC making exceptions, at least temporarily, for foreign regulated entities seeking SEF status. One of the kinks in the CFTC's implementation of the Dodd Frank Act's requirement for SEF licensing is that the SEF rules (e.g. regarding disclosure, open order book...) contravene the rules of other jurisdictions. To help iron out these 'kinks', the CFTC…

October 02, 2013 BY Gerald Segal

Australia's Yieldbroker given one month exception from SEF requirements

CFTC gives Yieldbroker until November 1 to finalize its SEF application. While US financial regulators promised that they were going to be completely rigid and strict with the planned implementation of Dodd-Frank Act requirements such as that of SEFs, the exceptions keep coming. First, we learned that the CFTC is delaying enforcement of many of…

September 29, 2013 BY Gerald Segal

CFTC (jokingly?) announces Thomson Reuters and ICAP SEFs in same press release

Most major swaps industry participants have now received their SEF designation, ready for October 2. This might have just been a coincidence, or someone at the CFTC has a sense of humor. The CFTC has indeed before combined, in one press release, announcements regarding licenses or other issues which involve more than one company. But…

September 29, 2013 BY Gerald Segal

CFTC delays SEF enforcement one month to November 1

However the CFTC denies the six month full implementation delay requested by the securities industry. Despite warnings by many securities industry firms that they and their clients are not fully ready to move swaps from over-the-counter platforms to SEFs, the CFTC apparently will not delay the October 2 deadline (i.e. this Wednesday) for SEF implementation.…

September 24, 2013 BY Gerald Segal

360 Trading Networks (360T) granted latest SEF license

Multi-bank multi-asset platform provider 360T looks to expand its institutional business in the US. The CFTC has granted its most recent SEF license to Frankfurt-based trading platform company 360 Trading Networks (known better in the industry as 360T). This is a little different than most of the other SEF application approvals made so far --…

September 20, 2013 BY Gerald Segal

SEF applications approved for Javelin, BGC Partners and TeraExchange

Most major Swaps industry participants have received, or at least applied for, SEF designation. The CFTC has granted three more SEF licenses, this time to Tera Group's TeraExchange, BGC Partners and Javelin Capital Markets. They now join Bloomberg, Tradeweb, State Street, GFI, and MarketAxess, with applications still in process for industry giants CME Group and Thomson…

Tag: what are SEFs