As a first step in providing derivatives end-user clients access to SEFs for derivatives trading and execution compliance, Calypso is interfacing with TW SEF from Tradeweb Markets, the leading global provider of fixed income and derivatives marketplaces, to offer an out-of-the-box request-for-quote (RFQ) and order book integration solution.

With mandatory SEF trading projected in February 2014, Calypso sought to give its clients the ability to automate cleared swap execution. SEFs were mandated to be compliant with Dodd-Frank rules on October 2, 2013. Calypso added this functionality into its OTC End-User Clearing solution, using the flexible architecture of the Calypso platform that allows addition of asset classes, clearing functionality and interfaces to help clients keep in step with regulation.

This extension of the Calypso solution ensures clients will have direct connectivity between Calypso and Tradeweb Markets' TW SEF for Interest Rate Swaps and Credit Default Swap Indices. The platform supports straight-through-processing for clearing workflows and prevents double entry of trade details. Features of the interface include:

• Connectivity between Calypso and Tradeweb via FIX Messages
• Trade execution via Tradeweb and seamless integration to Calypso
• Trade novation through Calypso triggered by cleared messages from Tradeweb
• Support for Tradeweb's RFQ system and fully disclosed order book
• Ability for block trading both above and below the mandatory notional clearing threshold; block trades above the threshold are still mandatory for SEF processing

"We're excited to be among the first in the market to offer our clients this support for SEF trading and execution with Tradeweb Markets," said Charles Marston, Chairman and CEO of Calypso. "Derivatives end users look to Calypso during these times of dynamic change in the derivatives trading landscape. More than ever, financial orgaganizations require workflow efficiency, aggregation of trading, processing and clearing on a single platform, greater compliance and risk management as they seek to adapt and benefit from the new derivatives market structure."

"Tradeweb is a global leader in providing institutional investors with efficient, flexible access to liquidity in the evolving derivatives marketplace," said Billy Hult, President of Tradeweb Markets. "By integrating with partners like Calypso, we can continue to deliver a seamless electronic end-to-end workflow that reduces manual entry errors and increases productivity."