A Flurry of Swaps Facility Approvals as Deadline Nears

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) has approved the applications of Javelin SEF, LLC (Javelin) for temporary registration as swap execution facilities (SEFs) pursuant to section 5h of the Commodity Exchange Act (CEA) and section 37.3(c) of the CFTC’s regulations. Javelin is a Delaware limited liability company and is a wholly-owned subsidiary of Javelin Capital Markets, LLC., a Delaware limited liability company. 

A SEF is a category of CFTC registered entities 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. Javelin and BGC will be required, as will all future temporarily and fully registered SEFs, to demonstrate continued compliance with all applicable provisions of the CEA and CFTC regulations, including part 37, and any future regulations, amendments, guidance, and interpretations issued by the CFTC. As a next step, the CFTC will undertake a substantive review of Javelin and BGC’s applications for full registration.