MFA Supports More Limited Made-Available-to-Trade Submissions

MFA submitted a supplemental comment letter to the CFTC regarding various SEF-amended Made-Available-to-Trade (MAT) submissions. In the comment letter, MFA stated it supports the revisions made by Javelin SEF and TW SEF in their amended MAT determinations. MFA stated that the amended determinations which focus on spot-starting Benchmark Swaps are closely aligned to MFA's phase-in approach which it recommended in a previous comment letter.

MFA explained that a phase-in approach strikes the appropriate balance by "bringing the benefits of SEF trading to the most liquid products" while ensuring that the transition to SEF trading will not disrupt markets.

See: MFA Comment Letter; MFA Press Release.Related News: Javelin SEF Submits More Limited MAT Determination to CFTC (with SIFMA AMG Comment Letter and Lofchie Comment) (December 3, 2013); MFA Submits Suggestions to CFTC on MAT Submissions (with Lofchie Comment) (November 25, 2013); SIFMA and ISDA Submit Comments Regarding MarketAxess MAT Determination (with Lofchie Comment) (December 4, 2013).