CFTC Certifies Tradeweb TW SEF MAT Determination

The CFTC announced today that it has certified Tradeweb Markets’ Made Available to Trade (MAT) determination.  This means that a number of U.S. dollar and Euro denominated benchmark credit default swaps (CDS) and interest rate swaps will be subject to the MAT provision.

As a result of the certification, transactions involving certain IRS contracts and CDS contracts will be subject to the trade execution requirement, effective February 26, 2014. This is in addition to the IRS contracts that will be subject to the trade execution requirement on February 15, 2014 and February 21, 2014, respectively.

A requirement of the OTC derivatives markets reforms adopted under Dodd-Frank is that all derivatives that have been MAT’d are required to trade on an exchange or a SEF or designated contract market (DCM).

Javelin was the first to MAT interest rate swaps, while Tradeweb Markets’ TW SEF was the first to MAT credit default swaps on October 29, 2013. Thus far, Javelin and trueEx have also secured MAT certification for certain interest rate swaps contracts.

To view the CFTC MAT announcement regarding the Tradeweb MAT certification, please click here.