TeraExchange has received temporary registration from the Commodity Futures Trading Commission (CFTC) to operate a multi-asset class swap execution facility (SEF).
As a swap execution facility, TeraExchange will empower market participants to execute a wide variety of financial instruments including interest rate swaps, CDS indices and FX: non-deliverable forwards.
“The launch of SEFs is bringing transparency and new opportunities for efficient hedging and alpha creation to the swaps market,” says Christian Martin, chief executive and co-founder of TeraExchange. “With our temporary registration in hand we can now deliver market participants the most efficient and robust offering in the marketplace.”
CFTC’s mandatory compliance deadline for swap trading venues is 2 October.