CFTC Approves Tullett Prebon’s SEF Status
Tullett Prebon will offer SEF-compliant execution services for rates, credit indices, foreign exchange (FX), equity derivatives and commodities through its electronic broking platforms.
"Tullett Prebon has worked diligently over the last three years, preparing and investing in our trading technology and infrastructure, to ensure the company would meet the requirements of the Dodd–Frank legislation," says Shawn Bernardo, CEO of Tullett Prebon's SEF. "We are now able to provide our clients with SEF-compliant platforms and services within the new regulatory framework under Dodd–Frank, and we will continue to work with our customers and the CFTC to ensure that market participants successfully manage the transition to Tullett Prebon's SEF effectively."
Outlined in Dodd–Frank, SEFs aim to improve transparency and stability in the over-the-counter (OTC) derivatives market by migrating standardized derivatives contracts onto electronic exchanges.
Registered SEFs will be allowed to start trading on October 2.
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