September 13, 2013
CFTC Issues Notices of Temporary Registration as a Swap Execution Facility to SwapEx, LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corporation
Washington, DC — The U.S. Commodity Futures Trading Commission (Commission) has approved the applications of SwapEx, LLC (SwapEx), GFI Swaps Exchange LLC (GFI), and MarketAxess SEF Corporation (MarketAxess) for temporary registration as swap execution facilities (SEFs) pursuant to section 5h of the Commodity Exchange Act (CEA) and section 37.3(c) of the Commission’s regulations. SwapEx is a Delaware limited liability company and is an indirect wholly-owned subsidiary of State Street Corporation, a Massachusetts corporation. GFI is a Delaware limited liability company and is an indirect wholly-owned subsidiary of GFI Group Inc., a Delaware corporation. MarketAxess is a Delaware corporation and is a direct wholly-owned subsidiary of MarketAxess Holdings, 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. SwapEx, GFI, and MarketAxess will be required, as will all future temporarily and fully registered SEFs, to demonstrate continued compliance with all applicable provisions of the CEA and Commission regulations, including part 37, and any future regulations, amendments, guidance, and interpretations issued by the Commission in order to obtain and maintain permanent registration.
Last Updated: September 13, 2013