CFTC Issues Temporary Registration as Swap Execution Facility to Bloomberg (with Lofchie Comment)

CFTC has approved the application of Bloomberg SEF LLC ("BSEF") for temporary registration as a swap execution facility ("SEF"). BSEF is the first entity for which the Commission has issued temporary registration as a SEF. It may begin operating after August 5, 2013, the effective date of the SEF rules.

Lofchie Comment: Notwithstanding the existence of a SEF, no products will yet be subject to mandatory SEF or exchange trading.

See: CFTC Press Release; Bloomberg SEF Letter.