CFTC exemption from SEF registration for EU trading venues

Published: 19 December 2017

The US Commodity Futures Trading Commission (CFTC), has approved an exemption from Swap Execution Facility (SEF) registration for Multilateral Trading Facilities (MTFs) and Organised Trading Facilities (OTFs) authorised within the EU.

This follows the joint approach between the CFTC and European Commission to recognise one another’s trading venues for the purposes of the derivatives trading obligation which is due to go live in the EU on 3 January. The CFTC has utilised its ability to provide an exemption under Section 5h(g) of the Commodity Exchange Act for facilities subject to comparable, comprehensive supervision and regulation by the appropriate governmental authorities in the facility’s home country.


If members have any questions, please contact Adam Jacobs-Dean, Oliver Robinson or Adele Rentsch.