September 9, 2013

CFTC Issues Notices of Temporary Registration to TW SEF LLC and DW SEF LLC as Swap Execution Facilities

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Oversight approved on September 6, 2013, applications for TW SEF LLC (TW SEF) and DW SEF LLC (DW SEF) for temporary registration as swap execution facilities (SEFs). TW SEF and DW SEF are each a Delaware limited liability company and are wholly-owned subsidiaries of Tradeweb Global LLC, a Delaware limited liability company.

TW SEF and DW SEF are the second and third entities for which the CFTC has issued temporary registration as a SEF – 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. Bloomberg SEF LLC was previously granted temporary registration as a SEF on July 30, 2013.

In order to obtain and maintain permanent registration, TW SEF and DW SEF will be required to demonstrate continued compliance with all applicable provisions of the Commodity Exchange Act and CFTC regulations, including part 37 of the CFTC’s regulations, and any future regulations, guidance, and interpretations issued by the CFTC.

Last Updated: September 9, 2013