Release Number 6698-13

September 19, 2013

CFTC Issues Notice of Temporary Registration as a Swap Execution Facility to TeraExchange, LLC

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) approved on September 18, 2013, the application of TeraExchange, LLC (TeraExchange) for temporary registration as a swap execution facility (SEF). TeraExchange is a Delaware limited liability company and is a wholly-owned subsidiary of Tera Group, Inc., a Delaware corporation.

A SEF is a category of CFTC registered entities created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to provide greater pre-trade and post-trade transparency to the swaps market. TeraExchange will be required, as will all future temporarily and fully registered SEFs, to demonstrate continued compliance with all applicable provisions of the Commodity Exchange Act and CFTC regulations, including part 37, and any future regulations, amendments, guidance, and interpretations issued by the CFTC. As a next step, the CFTC will undertake a substantive review of TeraExchange’s application for full registration.

Last Updated: September 19, 2013