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,…

March 07, 2014 BY Andrew Saks-McLeod

CFTC Provides Time-Limited No-Action Relief to Certain Affiliated Counterparties

The US regulatory authorities' complex rulings with relation to the structure by which clearing of swaps can be carried out between counterparties continue to evolve. Following last year's implementation of full reporting requirements by CCPs, the CFTC has provided time-limited no-action relief from trade execution requirements to certain Affiliated Counterparties until December 2014. The Commodity…

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…

December 24, 2013 BY Gerald Segal

CFTC grants substituted compliance with regulations from six regions worldwide

CFTC recognizes some foreign regulators’ oversight of key swaps components, causes more confusion Friday afternoon saw a plethora of press releases by the CFTC which instead of clearing out the rulebook by which swaps and derivatives clearing counterparties have to comply with, effectively caused even more confusion and chaos. The CFTC announced local companies can…

December 06, 2013 BY Gerald Segal

Second SEF relief period expires, confusion sets in

FX traders expressed their doubts about the ability of SEFs to handle CFTC's procedures properly In an extensive piece today titled ‘SEFs battle with confirmations after CFTC relief expiry’ Risk Magazine is analyzing extensively the market conditions surrounding the exemption period for SEF confirmation issuing, which expired on November 29th. It turns out that at present…

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 21, 2013 BY Gerald Segal

SEF applications approved for trueEX and ICE IntercontinentalExchange

What is an SEF exactly? The CFTC has granted two more (temporary) SEF licenses, this time to trueEX and ICE IntercontinentalExchange. trueEX is an interbank exchange for interest rate swaps. And ICE is, of course, the large publicly traded (NYSE:ICE) US commodities exchange, which operates regulated exchanges and clearing houses for energy, agricultural, credit, currency, emissions,…

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: Dodd-Frank SEF