Are all swaps required to be on a SEF?
Subject to certain limited exceptions, swaps that are subject to the trade execution requirement and traded on a SEF must be transacted as “Required Transactions” under Part 37 of the Commission’s regulations under Title 17 of the Code of Federal Regulations, while such swaps that are traded on a DCM must be transacted …
Who needs to trade on SEF?
Section 5h(a)(1) of the Act provides that any person who offers a trading system or platform in which more than one market participant has the ability to execute or trade swaps with more than one other market participant on the system or platform must apply to the Commission to register as a SEF or be designated as a …
Is a SEF a DCM?
NFA has provided regulatory services to designated contract markets (DCM) for more than 15 years. The Dodd-Frank Wall Street Reform Act created a new type of trading venue for standardized swaps—swap execution facilities (SEF)—each of which has self-regulatory responsibilities to monitor trading on its platform.
What is traded on SEF?
A Swap Execution Facility (SEF) is an electronic platform provided by a corporate entity that allows participants to buy and sell swaps in a regulated and transparent manner.
What is the purpose of a SEF?
What is the purpose of the SEF? The Self-Evaluation is a chance for school leaders to reflect on their provision and impact. This will also include making future targets and plans. This should take into account any strengths and successes, as well as identifying areas for improvement.
Can swaps be executed on DCM?
Section 733 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) adopts new Section 5h of the Commodity Exchange Act (CEA), which provides that no person may operate a facility for the trading or processing of swaps unless the facility is registered as a swap execution facility (SEF) or as …
Who regulates the swap market?
Under the Dodd-Frank Act, the SEC regulates “security-based swaps,” and the CFTC regulates “swaps.” There are rules defining which types of transactions are consi based swaps,” and which dered “swaps,” which are considered “security- fall outside the definition of either.
Does the NFA regulate SEF?
NFA provides regulatory services to designated contract markets (DCM) and swap execution facilities (SEF)—each of which has self-regulatory responsibilities to monitor trading on its platform.
What is a DCM CFTC?
Designated contract markets (DCMs) are boards of trade (or exchanges) that operate under the regulatory oversight of the CFTC, pursuant to Section 5 of the Commodity Exchange Act (CEA), 7 USC 7. DCMs may list for trading futures or option contracts based on any underlying commodity, index or instrument.
Who regulates swap markets?
Securities and Exchange Commission
“Swaps” are generally regulated by the Commodity Futures Trading Commission (the “CFTC”) under the Commodity Exchange Act (the “CEA”), and “security-based swaps” are regulated by the Securities and Exchange Commission (the “SEC” and, together with the CFTC, the “Commissions”) under the Securities Exchange Act of 1934.
What is a SEF order book?
The SEF’s Order Book provides any Participant or Trading Customer the ability to leave a fully-disclosed resting limit Order, which includes Participant or Trading Customer name, notional amount and price on the Order Book. These Order details are visible to all other Participants and Trading Customers.
What can a SEF request to the CFTC?
SEFs, like other entities, may submit requests that the CFTC take action on a number of other issues, including requesting no-action relief, interpretations, or guidance on particular issues.
Is the CFTC in charge of Swap Execution Facilities?
This page contains forms and other documents related to the Swap Execution Facilities (SEFs) operating under the regulatory oversight of the CFTC, pursuant to Section 5h of the Commodity Exchange Act (CEA). More information about SEFs is available in the Industry Oversight section.
What does SEFs stand for in Commodity Exchange Act?
Swap Execution Facilities (SEFs) are trading facilities that operate under the regulatory oversight of the CFTC, pursuant to Section 5h of the Commodity Exchange Act (“the Act”), 7 U.S.C. 7b-3.
What is Appendix A to part 37 of CFTC regulations?
Appendix A to Part 37 of the CFTC’s regulations includes Form SEF, which contains instructions and a list of necessary information and documentation required to initiate the registration process. Appendix B to Part 37 provides guidance on complying with certain core principles.