Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) has approved the application of Clear Markets North America, Inc. (CMSEF) for temporary registration as a swap execution facility (SEF). CMSEF is incorporated in the state of Delaware.
A SEF is a category of CFTC registered entity 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. CMSEF 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.
As a next step, the Commission will undertake a substantive review of CMSEF’s application for full registration.