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Javelin Files to Trade Interest-Rate Swaps, Spurring Sef Shift

Javelin Capital Markets LLC may accelerate the Dodd-Frank Act’s migration of U.S. swaps trading onto public markets by seeking permission to list and make interest-rate swaps available on its new trading platform.

The New York-based swap-execution facility, or Sef, was the first venue to seek such a Commodity Futures Trading Commission decision. Agency approval would trigger a requirement that hundreds of trillions of dollars of the same type of swaps be conducted on exchanges and Sefs owned by Javelin and others, the CFTC said after receiving the application yesterday.