No Sef clarity required for chatroom trading

Frustration grows over NDF clearing rules delay, however

Wind-up mouth

A swap execution facility (Sef) has claimed there is no need for more clarity on whether chatroom trading services should undergo registration, in response to claims by technology vendor SuperDerivatives that the Commodity Futures Trading Commission (CFTC) should issue further guidance.

"Footnote 88 is very clear on who needs to register as a Sef and who doesn't. It says the Sef rules apply to all multiple-to-multiple platforms, even if they offer products that are not yet subject to a trade

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