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MarketAxess SEF Corporation’s available-to-trade determinations are self-certified, says CFTC

MarketAxess SEF Corporation’s self-certification of available-to-trade determinations for certain credit default swap (CDS) contracts is now self-certified, according to the Commodity Futures Trading Commission (CFTC).

The CDS contracts included in MarketAxess’ MAT Determination were previously determined to be made available to trade as a result of an earlier MAT Determination submitted by TW SEF LLC (Tradeweb) that was self-certified on 27 January 2014.
 
Under Commission regulations, these CDS contracts, whether listed or offered by MarketAxess or any other swap execution facility (SEF) or designated contract market (DCM), will become subject to the trade execution requirement under section 2(h)(8) of the Commodity Exchange Act 30 days after Tradeweb’s 27 January 2014 certification.
 
All transactions involving swaps that are subject to the trade execution requirement must be executed through a DCM or a SEF. To the extent swaps subject to the trade execution requirement are executed on a SEF, they must be executed in accordance with the execution methods prescribed by Commission regulations.
 
Transactions involving the following CDS contracts will be subject to the trade execution requirement, effective 26 February 2014.


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