|By PR Newswire||
|January 16, 2014 06:16 PM EST||
NEW YORK, Jan. 16, 2014 /PRNewswire/ -- Javelin SEF announced today that the CFTC has certified its Made Available to Trade Submission ("MAT Submission") of Interest Rate Swaps thereby requiring mandatory trading of swaps on SEFs or exchanges.
"This is clearly a landmark event for the $400 Trillion swaps market and is one of the largest structural events for any capital market in 20 years," said James Cawley, CEO of Javelin Capital Markets.
Javelin's MAT certification begins a final 30 day clock that, upon its expiration, will require the majority of swaps to trade on a Swap Execution Facility ("SEF"), such as Javelin. Specifically, Javelin certified certain US dollar and Euro denominated benchmark swaps with the following maturities: 2 year, 3 year, 5 year, 7 year, 10 year, 12 year, 15 year, 20 year and 30 year. Javelin also certified certain forward or IMM interest rate swaps.
Trading on interest rate swaps on SEFs is expected to increase transparency, ease operational risk and ensure trade certainty post the Financial Crisis of 2008.
Unless the customer is exempt or the trade is in block size, market participants are required to trade all such interest rate swaps subject to Javelin's MAT on a SEF by February 16th, 2014.
"We are excited to be first, but truly the heavy lifting began some time ago to onboard customers and dealers, large and small, to ensure as little market disruption as possible."
Javelin SEF, LLC is a subsidiary of Javelin Capital Markets, LLC which was founded in 2009. Javelin Capital Markets is a derivatives trading venue that focuses on the execution of Interest Rate Swaps and Credit Default Swaps through its subsidiaries. Javelin works with several execution partners to ensure optimal liquidity for its diverse customer base. Javelin SEF is one of the first platforms to register as a Swap Execution Facility under the Dodd Frank Act 2010 with the CFTC.
Javelin offers both limit order book trading and request for quote trading on either a disclosed or anonymous basis. Javelin supports the goals of the Dodd Frank Act of 2010 and recognizes that the mandatory execution of swaps on Swap Execution Facilities is critical to promoting pre-trade transparency, market liquidity and competition in the swaps market. For more information, please see www.thejavelin.com.
Contact: James Cawley, (212) 779-2300
SOURCE Javelin SEF
Feb. 14, 2016 08:30 AM EST
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
Feb. 14, 2016 08:30 AM EST Reads: 115
Feb. 14, 2016 08:15 AM EST Reads: 152
Feb. 14, 2016 07:30 AM EST
Feb. 14, 2016 05:00 AM EST
Feb. 14, 2016 04:30 AM EST Reads: 405
Feb. 14, 2016 04:00 AM EST Reads: 263
Feb. 14, 2016 04:00 AM EST Reads: 491
Feb. 14, 2016 03:45 AM EST Reads: 479
Feb. 14, 2016 03:30 AM EST Reads: 396
Feb. 14, 2016 02:00 AM EST Reads: 439
Feb. 14, 2016 01:15 AM EST Reads: 298
Feb. 13, 2016 11:15 PM EST Reads: 317
Feb. 13, 2016 09:00 PM EST Reads: 261
Feb. 13, 2016 08:45 PM EST Reads: 403