NEW YORK, NY. October 30, 2013. Javelin SEF announced today that it has amended its Made Available to Trade submission (“MAT Submission”) of Interest Rate Swaps to the Commodity Futures Trading Commission.
Javelin narrowed its MAT submission by removing variable notional swaps, shortening the maturities from 50 years to 31 years and dropping forward start Interest Rate Swaps to those inside of ten months. Forward starting swaps will still capture those instruments which start on certain IMM dates.
James Cawley, CEO of Javelin Capital Markets said “MAT translates into SEF trading of swaps by any means of interstate commerce, which includes the telephone and request for quote trading to two dealers—Javelin is pleased to have sparked the debate and to adopt a more scaled approach for product offerings on its platform.”
Javelin’s MAT filing began the CFTC’s process to mandate market-wide swaps trading on transparent execution platforms.
Javelin offers both limit order book trading and request for quote trading on either a disclosed or anonymous basis. Javelin supports the goals of the Dodd Frank Act of 2010 and recognizes that the mandatory execution of swaps on Swap Execution Facilities is critical to promoting pre-trade transparency, market liquidity and competition in the swaps market.
Javelin SEF, LLC is a subsidiary of Javelin Capital Markets, LLC which was founded in 2009. Javelin Capital Markets is a derivatives trade venue that focuses on the execution of Interest Rate Swaps and Credit Default Swaps through its subsidiaries. Javelin works with several execution partners to ensure optimal liquidity for its diverse customer base. Javelin SEF is one of the first platforms to register as a Swap Execution Facility under the Dodd Frank Act 2010 with the CFTC. For more information, please see www.thejavelin.com.