SEF APPROVALS CONTINUE WHILST US REGULATOR SCRUTINIZES OTC FIRM.

In keeping with the requirement stipulated by the Dodd-Frank Act, institutional trading firms are continuing to apply to the US Commodity Futures Trading Commission (CFTC) for registration as a Swap Execution Facility (SEF).

As yesterday’s business day drew to a close in North America, the CFTC announced that it has approved the applications of two further entities to register as SEFs.

The organizations concerned are DW SEF LLC and TW SEF LLC, both of which are second and third entities for which the CFTC has issued temporary registrations as a SEF.

The applications of the companies, both of which are Delaware limited liability corporations, and are wholly-owned subsidiaries of Tradeweb Global were approved on September 6, by the CFTC’s Division of Market Oversight as part of the Dodd-Frank Act’s provision that firms must provide greater pre-trade and post-trade transparency to the swaps market.

Bloomberg SEF LLC was previously granted temporary registration as a SEF on July 30, 2013, rendering it the first company to obtain such registration.

In order to obtain and maintain permanent registration,

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