Statement of U.S. Commodity Futures Trading Commissioner Sharon Bowen Regarding Trading Practices on SEFs

April 23, 2015

Commissioner Sharon Bowen of the Commodity Futures Trading Commission issued the following statement on the subject of the practice of name-give-up on Swap Execution Facilities (SEFs):

I was pleased to see the Chairman’s statement regarding greater anonymity on SEFs in his speech today. I have not heard a compelling justification for post-trade name-give-up in my many discussions with market participants regarding SEFs. In fact, the subject of whether trading on SEFs should be anonymous was raised earlier this month at the first meeting of the Market Risk Advisory Committee, and I believe there is broad support for ending the practice of post-trade name-give-up on SEFs.

I look forward to discussing this subject further with my fellow Commissioners. This is a dynamic, evolving market and it is in everyone’s best interest that we address this subject sooner rather than later.

Last Updated: April 23, 2015