Yesterday, October 2nd, Bloomberg announced the launch of our multi-asset class swap execution facility (SEF) in compliance with the mandatory deadline set by the Commodity Futures Trading Commission (CFTC).

On our first day of SEF trading, more than 110 trades were executed by over 50 firms globally. The trades were executed across every asset class Bloomberg’s SEF offers – including interest rate swaps, credit default swaps, foreign exchange swaps and commodity derivatives – and totaled more than $6 billion in volume.

“It’s encouraging to see that despite market uncertainty and last minute regulatory changes, more than 50 of our clients are already trading on our SEF,” stated Ben Macdonald, Bloomberg’s Global Head of Product and President of Bloomberg SEF LLC. “We see this as a positive start.”

The launch of our SEF represents a multi-year effort to ensure we provide our clients a reliable, complete solution to help them comply with Dodd-Frank regulation. It is why we were the first to submit our SEF application to the CFTC and the first to receive approval.

We understand that not everyone is familiar with how a SEF works, so we developed a basic infographic to demonstrate how trades flow:

To learn more about Bloomberg SEF, click here or type SEF on the Bloomberg Professional service.