September 27, 2013

CFTC Issues Notices of Temporary Registration as a Swap Execution Facility to Thomson Reuters (SEF) LLC and ICAP SEF (US) LLC

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC or Commission) has approved the applications of Thomson Reuters (SEF) LLC (TR SEF) and ICAP SEF (US) LLC (ICAP SEF) for temporary registration as a swap execution facility (SEF). TR SEF is a Delaware limited liability company and is an indirect, wholly-owned subsidiary of Thomson Reuters Corporation, an Ontario, Canada corporation. ICAP SEF is a Delaware limited liability company and is an indirect, wholly-owned subsidiary of ICAP plc, a United Kingdom public limited company.

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. TR SEF and ICAP SEF 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 TR SEF’s and ICAP SEF’s applications for full registration.

Last Updated: September 27, 2013