September 20, 2013
CFTC Issues Notices of Temporary Registration as a Swap Execution Facility to trueEX, LLC and ICE Swap Trade, LLC
Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC or Commission) has approved the applications of trueEX, LLC (trueEX) and ICE Swap Trade, LLC (ICE Swap Trade) for temporary registration as swap execution facilities (SEF) pursuant to section 5h of the Commodity Exchange Act (CEA) and section 37.3(c) of the Commission’s regulations. trueEX is a Delaware limited liability company and is a wholly-owned subsidiary of trueEX Group LLC, a Delaware limited liability company. ICE Swap Trade is a Delaware limited liability company and is a wholly-owned subsidiary of IntercontinentalExchange, 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. trueEX and ICE Swap Trade 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 Commission regulations, including part 37, and any future regulations, amendments, guidance, and interpretations issued by the Commission. As a next step, the Commission will undertake a substantive review of trueEX’s and ICE Swap Trade’s applications for full registration.
Last Updated: September 20, 2013