Bloomberg announced today that its multi-asset class swap execution facility (SEF), Bloomberg SEF LLC, has commenced operation in compliance with the Commodity Futures Trading Commission (CFTC)'s mandatory deadline.
Bloomberg was first to submit its SEF application to the CFTC on June 4 and first to receive approval on July 30. Bloomberg has provided market participants derivative trading platforms for more than a decade.
"Swaps market reform is a cornerstone of Dodd-Frank regulation that will continue to impact the global markets," said Ben Macdonald, Bloomberg's Global Head of Product and President of Bloomberg SEF LLC. "With the launch of our SEF, we can provide our customers a complete, multi-asset class solution to help them meet these regulatory requirements, while increasing transparency in today's dynamic marketplace."
Bloomberg's SEF offers Bloomberg Professional service subscribers cross-asset liquidity for interest rate swaps, credit default swaps, foreign exchange swaps and commodities derivatives via request-for-quote and order book trading, as mandated by Dodd-Frank. The SEF is fully integrated with Bloomberg's data, news and analytics to provide clients a single, comprehensive platform.
Bloomberg subscribers can also access straight-through processing functionality and direct connectivity to derivative clearing organizations including CME Clearing, ICE Clear Credit and LCH.Clearnet.
For more information about Bloomberg's SEF, subscribers can type SEF on the Bloomberg Professional service or visit www.bloombergsef.com. Clients and prospects can get more details by contacting the following sales executives:
• For fixed income trading - Jeffrey Missimer at 212-617-2236 or email@example.com or Joseph Guarino at 212-617-4344 or firstname.lastname@example.org
• For foreign exchange and commodities trading - Phillip Cunn at 212-617-5136 or email@example.com