SEC Finalizes Rule on Security-Based Swaps Trading Venues
- Delayed Dodd-Frank-era measure outlines registration rules
- About five firms are expected to have to register with agency
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The US Securities and Exchange Commission has released final rules for security-based swaps trading platforms, giving them the green light to register with the agency.
The SEC said Thursday it had adopted the regulation — a move that came more than a decade after Congress asked the agency to do so. Under the rules, security-based swaps execution facilities would get a process for registering with the agency and clarity on how they should execute trades. Broadly, firms must operate trading platforms that can allow multiple participants to execute or trade those swaps.