Bloomberg SEF Completes First Sponsored Access Swap Trade

The new functionality enables FCMs to provide execution services that allow customers to directly access Bloomberg's SEF, helping to facilitate the regulatory transition for buy-side firms as they comply with CFTC mandates.

"Many clients are planning to utilize this structure to prepare for next week’s made-available-for-trading deadline, following NISA as the first to trade cleared swaps through this framework," says John Dabbs, head of Credit Suisse’s US Futures Commission Merchant Group.

Adds Scott Rofey, head of U.S. Dollar interest rate swap derivatives at Goldman Sachs, "Providing liquidity to direct market access clients of Bloomberg's SEF is one way we are helping our clients manage the transition to new methods of electronic market access."