CFTC clarification little help for European swap platforms
Time running out for MTFs over Sef equivalence: May 15 deadline looms
European swaps platforms still face a race against time to avoid having to register as swap execution facilities (Sefs) in the US, despite the Commodity Futures Trading Commission (CFTC) releasing further clarification on the matter on April 9.
Current CFTC guidelines state that platforms designated as multilateral trading facilities (MTFs) under the European Union's Markets in Financial Instruments Directive (Mifid), are able to offer services in the US, or to US firms, until May 15.
After that
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