TeraExchange, LLC announced today that it 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," said Christian Martin, CEO 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 October 2. TeraExchange has created the most comprehensive and technologically advanced independent swaps marketplace, offering all buy side and sell side market participants the utmost in access and transparency through an anonymous, all-to-all central-limit order book, and a unique market making program with directed orders.
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