Washington, DC — The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) today announced that Bloomberg SEF LLC’s (Bloomberg) self-certification of available-to-trade determinations (MAT Determination) for certain interest rate swap (IRS) and credit default swap (CDS) contracts are self-certified.
This self-certification involves only certain IRS and CDS contracts made available to trade via earlier determinations that were self-certified on January 16, 2014, January 22, 2014 and January 27, 2014, respectively. These determinations became effective on February 15, 2014, February 21, 2014 and February 26, 2014 meaning that the CDS contracts and IRS contracts in this MAT Determination, whether listed or offered by Bloomberg or any other swap execution facility (SEF) or designated contract market (DCM), are subject to the trade execution requirement under section 2(h)(8) of the Commodity Exchange Act. The certified MAT determinations are available on the Commission’s website.
All transactions involving swaps that are subject to the trade execution requirement must be executed through a DCM or a SEF. To the extent swaps subject to the trade execution requirement are executed on a SEF, they must be executed in accordance with the execution methods prescribed by CFTC regulations.