September 25, 2013

CFTC Issues Notices of Temporary Registration as a Swap Execution Facility to tpSEF Inc. and Tradition SEF, Inc.

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC or Commission) has approved the applications of tpSEF Inc. (tpSEF) and Tradition SEF, Inc. (Tradition SEF) for temporary registration as swap execution facilities (SEFs) pursuant to section 5h of the Commodity Exchange Act (CEA) and section 37.3(c) of the Commission’s regulations. tpSEF’s and Tradition SEF’s applications for temporary registration as SEFs were approved by the Commission on September 24 and 25, 2013, respectively. tpSEF is a Delaware corporation and is a wholly-owned subsidiary of Tullet Prebon Americas Corp. Tradition SEF is a Delaware limited liability company and is a wholly-owned subsidiary of Compagnie Financiere Tradition S.A., a Switzerland 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. tpSEF and Tradition 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 tpSEF’s and Tradition SEF’s applications for full registration.

Last Updated: September 25, 2013