TeraExchange Files SEF Application
TeraExchange plans to offer trading in all clearable instruments, including interest-rate swaps, credit-default swaps, foreign exchange (FX) non-deliverable forwards and others. The SEF offering also includes the use of a cross-asset execution management system and pre-trade credit checking functionality. The SEF will utilize the services of the National Futures Association, as well as its in-house compliance chief for surveillance and oversight functions.
"We are committed to being a leading SEF by delivering the most transparent and innovative marketplace available. We are providing customers across the entire marketplace a robust solution that has been tailored to meet the new regulatory requirements as well as the myriad needs of traders," says Christian Martin, CEO at TeraExchange. "We are very pleased to be included among the first to file for designation as a Swap Execution Facility with the CFTC and we welcome their oversight in this dynamically changing landscape."
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