NEX Group Launches Dual-Regulated SEF for FX Futures
NDF trading platform will add new products and services by year-end, and is regulated by both the CFTC and FCA.
The NEX swap execution facility (SEF) went live on July 3, according to the company, initially allowing clients to trade non-deliverable forwards (NDFs) through NEX’s EBS Market platform. The facility will operate from New York and is led by Jason Cohen, CEO of NEX SEF and COO of NEX Markets.
Where the SEF differs from others is in its oversight—its registration was approved by the US Commodity Futures Trading Commission (CFTC) in April 2017, but it is also regulated by the UK Financial Conduct
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