July 31, 2013

CFTC Issues Order of Temporary Registration as a Swap Execution Facility to Bloomberg SEF LLC

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC or Commission) yesterday approved the application of Bloomberg SEF LLC (BSEF) for temporary registration as a swap execution facility (SEF). BSEF is a Delaware limited liability company and is a wholly-owned subsidiary of Bloomberg L.P., a Delaware limited liability partnership. BSEF may not begin operating as a temporarily registered SEF before August 5, 2013, the effective date of the SEF rules.

BSEF is the first entity for which the Commission 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. BSEF 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 in order to obtain and maintain permanent registration.

Last Updated: July 31, 2013