CFTC.com – Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) announced today that it has issued an Order of Registration to Seed SEF LLC (Seed), of Chicago, Illinois, granting it fully registered status with the CFTC as a Swap Execution Facility (SEF).
SEFs are trading facilities that operate under the CFTC’s regulatory oversight for trading and processing swaps. SEFs were authorized to be created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to provide greater pre-trade and post-trade transparency to the swaps market.
Seed is a Delaware limited liability company and a wholly-owned subsidiary of Seed CX LTD., a Delaware corporation.
Upon review of Seed’s application, the CFTC determined that Seed has demonstrated compliance with the Commodity Exchange Act (CEA) and the CFTC’s regulations applicable to SEFs. The terms and conditions applicable to the Order include, among others, that Seed shall comply with all provisions of the CEA and all requirements in the CFTC’s regulations, as may be amended or adopted from time to time, that are applicable to SEFs. Seed also shall comply with all representations and submissions made by it in support of its application for registration as a SEF.
The CFTC issued the Order pursuant to Section 5h of the CEA and CFTC Regulation 37.3(b). Registered SEFs must comply with the core principles in Section 5h of the CEA and any CFTC regulations applicable to them.
Including the Order issued today, there are currently 23 SEFs fully registered with the CFTC.