Integral files SEF application with CFTC

Source: Integral

Integral Development Corp., a leading provider of FX trading solutions and services, announced today that it has filed an application with the Commodity Futures and Trading Commission (CFTC) to launch a Swap Execution Facility (SEF) under the CFTC's recently announced SEF rules issued pursuant to the Dodd-Frank Act. INFX SEF is a wholly-owned subsidiary of Integral Development Corp.

"Over two decades, Integral has solved some of the toughest technology problems in capital markets for the benefit of our clients. As a natural extension of our OTC FX platform FX Grid®, we took on the challenge of helping our customers, partners, and liquidity providers navigate the new regulatory landscape. We have created a SEF that preserves what is best about OTC markets - relationships, choice, resiliency, and bespoke business models, thereby minimizing any potential disruption to our customers' foreign exchange trading businesses." said Harpal Sandhu, CEO, Integral Development Corp.

Pending approval, Integral will be offering a regulatory-compliant FX trading platform. This will include all necessary connections to liquidity providers, clearing houses, SDRs, etc. Integral's cloud services require no upfront investments. Customers benefit from the pay-as-you-go business model.

Integral's SEF will support request for quote (RFQ) and an integrated order book. Customers will enjoy a seamless transition between regulated and non-regulated instruments. For our liquidity providers, Integral offers easy access to a large institutional market while taking care of all the integration issues. For buy-side firms, Integral provides onboarding and workflow solutions that are tailored to their interests while easing the transition to regulated markets.

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