To continue to serve our clients and bring increased transparency and efficiency to the marketplace, yesterday Bloomberg filed an application to become a multi-asset class swap execution facility (SEF). Our application was submitted following the official publication of the Commodity Futures Trading Commission’s (CFTC) rules related to SEFs.
Bloomberg remains committed to Dodd-Frank’s objectives of increasing transparency and standardization in the swaps market, including the requirement to make real-time, post-trade data available to the public. Therefore, Bloomberg has also applied to be a swap data repository (SDR) to enable market participants to fulfill their reporting requirements across all derivative asset classes.
Today, we introduced our plans and began the conversation with our clients by holding a webinar to discuss our timeline, explain how they can access or provide liquidity on the platform and outline how trades will be reported to SDRs.
Stay tuned for more information soon.