CFTC Issues Trade Execution Mandate to Bloomberg SEF for Additional Interest Rate and Credit Default Swaps

The CFTC Division of Market Oversight ("DMO") certified Bloomberg SEF LLC's ("Bloomberg") self-certification of certain interest rate swap and credit default swap ("CDS") contracts that have been made available to trade ("MAT Determinations").

The CFTC stated that 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. Additionally, the CFTC stated that swaps subject to MAT Determinations, whether offered by trueEx or any other swap execution facility ("SEF") or designated contract market ("DCM"), will be subject to the trade execution requirement under CEA Section 2(h)(8) ("Jurisdiction of Commission; Liability of Principal for Act of Agent; Commodity Futures Trading Commission; Transaction in Interstate Commerce") 30 days after certification.

See: Press Release.Related news: CFTC Seeks Public Comment on Certification from Bloomberg SEF LLC to Implement Available-to-Trade Determinations for Credit Default Swaps (December 9, 2013) CFTC Issues Temporary Registration as Swap Execution Facility to Bloomberg (with Lofchie Comment) (July 31, 2013); CFTC Republishes MAT Swap Chart (February 21, 2014) CFTC Issues Trade Execution Mandate for Certain Credit Default Swaps (January 30, 2014) CFTC Issues Trade Execution Mandate for Additional Interest Rate and Credit Default Swaps (with Lofchie Comment) (January 28, 2014) CFTC Issues Trade Execution Mandate for Certain Interest Rate Swaps (with Robins Comment and Lofchie Comment) (January 17, 2014).