Tradeweb Markets revealed it has secured approval from the U.S. Securities and Exchange Commission (SEC) for its swap execution facility, TW SEF LLC, to be registered as a security-based swap execution facility (SBSEF) under Regulation SE.
Tradeweb Receives SEC Approval for Swap Execution Facility’s SBSEF Registration
The milestone allows Tradeweb to facilitate the trading of single-name credit default swaps (CDS) for institutional clients in compliance with the SEC’s evolving regulatory framework.
The approval follows the SEC’s introduction of Regulation SE, which requires any platform executing security-based swaps to register as either an SBSEF or a national securities exchange.
With the designation, TW SEF can now legally offer trading of security-based swaps under the new guidelines.
Elisabeth Kirby, Managing Director and Head of Market Structure at Tradeweb, called the approval “a significant step forward in fostering more transparency for institutional single-name CDS markets.”
She highlighted Tradeweb’s role as a leader in electronic derivatives trading, stating, “Tradeweb is uniquely positioned to work with regulators on initiatives that enhance transparency, efficiency and liquidity in these markets while ensuring compliance with evolving regulatory standards.”
The company sai that since its launch in 2013 following the Dodd-Frank Act, TW SEF has grown into the largest swap execution facility for vanilla swaps, processing $150 trillion in trades in 2024 alone.
The platform now serves over 1,000 institutional clients and 57 liquidity providers.
