Tullett Prebon Files SEF Application with CFTC
Registered as tpSEF, Tullett Prebon is the latest to file for SEF credentials, with Bloomberg, Tradeweb, TeraExchange and others all submitting their own registrations in recent months. The CFTC finalized its rules regarding how SEF operate earlier this year, in order to bring enhanced transparency and stability to the over-the-counter (OTC) derivatives market by moving standardized contracts onto electronic platforms.
"Tullett Prebon's SEF forms an important part of the development of our existing businesses as we continue to grow our global market leading offering in those areas regulated by the CFTC and SEC," says John Abularrage, CEO and president of the Americas at Tullett Prebon. "Tullett Prebon will provide SEF-compliant platforms for our customers to access liquidity and meet the demands of the new legislation."
Shawn Bernardo, Tullett Prebon's senior managing director of e-broking, member of Tullett Prebon's North American Executive Committee and chairman of the Wholesale Markets Brokers' Association (WMBA), has been named CEO of the SEF.
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