Reg. execution records of all communications with clients. That is why at 360T we have . CFTC (pending approval) compliant marketplace for CTAs, financial counterparties, and commercial end-users to negotiate and execute swaps. This term means a trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by multiple participants in the facility or system, through any means of interstate commerce, including any trading facility, that - (1) Facilitates the execution of swaps between persons; and This framework would harmonize with the swap execution facility framework promulgated by our sibling agency, the Commodity Futures Trading Commission." If adopted, today's proposal would implement the Exchange Act's trade execution requirement for security-based swaps and address the cross-border application of that requirement; implement . 1 Since 1998, Tradeweb has been at the forefront of creating electronic trading solutions which support price transparency and reduce systemic risk, the hallmarks of Title VII of the 1 Since 1998, Tradeweb has been at the forefront of creating electronic trading solutions which support price transparency and reduce systemic risk, the hallmarks of Title VII of the A swap is a contract through which two parties exchange the cash flows or. A swap execution facility, or SEF, is an electronic trading platform that allows participants to buy and sell swaps. By Ben Protess December 17, 2010 9:47 am December 17, 2010 9:47 am. No person may operate a facility for the trading or processing of security-based swaps, unless the facility is registered as a security-based swap execution facility or as a national securities exchange under this section. SwapEx was granted temporary registration as a Swap Execution Facility (SEF) on September 13, 2013 and full registration on January 22, 2016. Does the firmhave direct electronic access to a Swap Execution Facility (SEF)? Email: sef-trade-entry@bgcpartners.com or sef_team@bgcpartners.com. 4042 Yes No Do any of the firm's customershave direct electronic access to a SEF? 61,946 (Nov. 30, 2018). Dodd-Frank Act, which was signed by President Obama in July 2010 . After the 2007/08 financial crisis, the CFTC was the first off the mark among the G20 regulators in terms of implementing mandatory reporting of OTC derivatives. We know that today compliance is an absolute key concern for any financial services firm and that regulatory risk is taken very seriously. particular, the definition of Swap Execution Facility ("SEF") and related Core Principles for SEFs in advance ofthe Commissions' proposed rulemaking on SEFs. Refinitiv Swap Execution Facility (SEF) RE1150913/3-20 About Refinitiv FX Refinitiv FX offers the world's leading independent source of trusted FX market insight, interbank and dealer-to-client electronic trading venues, workflow management, and post-trade and regulatory support for both sell-side and buy-side market participants. SEF is the US regulated abbreviation for electronic . The page also includes a table with a ranking of volume by asset class, and a chart . 4041 Yes No Is the firmable to access a SEF without passing through an FCM's risk controls? A Next-Generation Swap Execution Facility. As a leading swap execution facility, this market increases visibility into the trading activity around CDS indexes and cleared single names, bilateral energy trades on natural . Efficient execution. On April 6, 2022, the SEC proposed a new regulatory framework for the registration and regulation of security-based swap execution facilities (SBSEFs). The proposed Regulation SE under Section 3D. AEGIS subsequently submitted its application with the Commodity Futures Trading Commission ("CFTC") to become a Swap Execution Facility ("SEF") under the CFTC's rules issued pursuant to the Dodd-Frank Act on February 3, 2021, and is currently under review. A notice from the US commodity regulator on Monday confirmed the reinstatement of the exchange as a Swap Execution Facility. The firm used the compound annual growth rate . Contact Info. swap execution facility rulebook version 1.12 by becoming a participant, or by accessing teraexchange in any way, and without any need for any further action, undertaking or agreement, a person agrees (i) to be bound by and comply with tera rules and obligations, and instrument specifications, in each bid and offer prices) and a mechanism for executing swap transactions among eligible participants. Swap Execution Facility Coming Spring 2022. Most are "at cost" operations. Sales@TeraExchange.com. Streamlined workflow Trading Organizations - Swap Execution Facilities (SEF) Search Swap Execution Facilities(SEF) using the following criteria: Status: Date From: To: Your query is: [Status: ALL] AND [Date From: To: ] The results for the query dated : 5/4/2022 12:36:00 AM are: Show All. Swap Execution Facility (SEF) | Bloomberg Professional Services Bloomberg Terminal Overview Bloomberg SEF is registered with the Commodity Futures Trading Commission (CFTC) to operate a multi-asset. Security-based swap execution facilities (a) Registration (1) In general. Swap Execution Facility (SEF) is a regulated platform for swap trading that provides pre-trade information (bids and offers) and an execution mechanism for s. . 360T's Swap Execution Facility (SEF) provides market participants with a fully-regulated trading venue so that they can be certain of meeting all their compliance obligations. §78c-4. P.O. At that meeting, the Commission approved (by a 4-1 vote) proposed amendments to the rules governing swap execution facilities (SEF) and the trade execution requirement (SEF Proposed Rules or Proposal). "Among other things, today's proposal would create a framework for the registration of security-based swap execution facilities, based upon the 14 core principles for these entities spelled out in the Dodd-Frank Act. The swap execution facility shall establish and enforce rules and procedures for ensuring the financial integrity of swaps entered on or through the facilities of the swap execution facility, including the clearance and settlement of the swaps pursuant to section 2(h)(1) of this title. Important Information CTAs, SEFs, & the Formation of AEGIS SEF Download AEGIS SEF Overview Each of those firms listed plays a role in the swaps market. The industry´s first and only multi asset class Swap Execution Facility employing central limit order book & request for quote trading protocols across interest rate and foreign exchange contracts. The Commodity Futures Trading Commission ("Commission" or "CFTC") is adopting final rules to amend certain parts of its regulations relating to the execution of package transactions on swap execution facilities ("SEFs") and the resolution of error trades on SEFs. 9 In the recent final rule setting the de minimis level for Swap Dealer registration, the Commission found that at least 98% of transactions reported to an SDR have a registered swap dealer as a counterparty. The Tradeweb pre-trade credit-check mechanism is a SEF-based hybrid solution designed to work seamlessly in the current derivatives trading workflow (see Figure 1). For each swap executed on or pursuant to the rules of a swap execution facility or designated contract market, the swap execution facility or designated contract market shall report required swap creation data electronically to a swap data repository in the manner provided in § 45.13(a) not later than the end of the next business day following . TeraExchange filed a self-certification application for the Bitcoin Swap . tpSEF - Regulation 40.6 Rule Certification (tpSEF Submission #21-01R) 29 Jan 2021. view. I have zero business with any of the firm directly or indirectly. Regulation of swaps is a key component of the attempt by US/UK/Asia to regulate the derivatives market, such that the 2008 financial crisis is not repeated. Swap Execution Facilities: A Very Fragmented Market by Candyce Edelen Recent regulatory changes related to Dodd-Frank will soon require reporting, clearing and settlement functions for many forms of over-the-counter derivatives. TraditionSEF has been granted registration by the US Commodity Futures Trading Commission (CFTC) as a multi-asset class swap execution facility. The CFTC solicited comments on several topics in the Preliminary Report, including: (i) whether the current de minimis threshold should be maintained, raised or reduced; (ii) whether swaps that are executed on a swap execution facility ("SEF") or designated contract market ("DCM") and/or centrally cleared should be excluded from an . SwapEx was granted temporary registration as a Swap Execution Facility (SEF) on September 13, 2013 and full registration on January 22, 2016. The CFTC defines a SEF as a "system in which multiple parties have the ability to execute swaps by accepting bids or offers from . 303940430.7 SEF . particular, the definition of Swap Execution Facility ("SEF") and related Core Principles for SEFs in advance ofthe Commissions' proposed rulemaking on SEFs. A Swap Execution Facility is an electronic trading system to bring greater efficiency and transparency in the swaps market. Swap Execution Facility (SEF) On January 26, 2016 the CFTC granted tpSEF permanent registration as a SEF. tpSEF - Regulation 40.6 Rule Certification (tpSEF Submission #20-16R) 18 Dec 2020. view. This verification will occur after execution of the Cleared Swap on the SEF (or pursuant to these Rules) but prior to submission to the relevant DCO, . Swap Execution Facility I. TeraExchange, meanwhile, is a subsidiary of Tera Group Inc., and also a Delaware corporation. The order from the regulator took effect as of Monday, and it precisely reads: 33606, 33631 (June 4, 2013) ("MAT Adopting Release"). The Commodity Exchange Act requires that any facility that allows buyers and sellers to trade swaps must first be approved by the CFTC. This new form of regulation amends what was previously known as… The SEF Tracker Historical Volume shows a time series of monthly volume on SEFs in three asset classes: interest rates, credit and foreign exchange. Commissioner Brian Quintenz fully supported the . § 37.9—Methods of Execution for Required and Permitted Transactions; § 37.10—Process for a Swap Execution Facility to Make a Swap Available to Trade; § 37.12—Trade Execution Compliance Schedule; § 38.11—Trade Execution Compliance Schedule; § 38.12—Process for a Designated Contract Market to Make a A swap execution facility (SEF) is an organized marketplace for swaps that is regulated by the U.S. Commodity Futures Trading Commission (CFTC). ICE Swap Trade. See CFTC Swap Dealer De Minimis Exception Final Staff Report, available at TraditionSEF operates markets for interest rate swaps, credit swaps, equity derivatives, commodity derivatives, foreign . Swap Execution Facility (SEF) A trading system or platform that enables many participants to execute or trade swaps. The fund has averaged 133% per year since its inception in 2016, compared to about 108% per year on average for bitcoin, according to Off the Chain. 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