Javelin Gains Temporary Approval for SEF Offering

Capitol Hill in Washington DC
Reforms in the derivatives market are being driven, in the US, by the Dodd-Frank Act.

Javelin SEF LLC will offer trading in interest-rate swaps and credit-default swaps, on a central limit order book and request-for-quote execution model. The company submitted its application at the beginning of August.

Temporary registration is a mechanism by which the CFTC allows SEF registrants to operate their platforms while awaiting full approval from the regulator. The rules are expected to come into force, barring last-minute relief, from the beginning of October onwards. The CFTC, in approaching the deadline, has issued a flurry of temporary registrations of late, as well as full approval to several SEFs, including Bloomberg and Tradeweb.

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