12/16/2010
"Today is an important day for market participants, as derivatives look set to join
the other major Rates markets in moving towards an electronic model. We applaud the
CFTC for proposing these definitions for the trading of derivatives, and believe that
they will increase transparency and create more efficient markets for end users.
Combined with the clearing mandate, this move to electronic trading will ultimately
lead to reduced systemic risk in the derivatives market. Tradeweb is ready and prepared
to register as a SEF, and looks forward to commenting in more detail when the full
rules are published."
-Lee Olesky, CEO of Tradeweb