NEX Group gets CFTC approval for swap execution facility
NEX Group plc (“NEX”) (NXG.L), a financial technology company at the centre of global markets, announces today that it has received approval from the Commodity Futures Trading Commission (CFTC) for NEX SEF Limited (“NEX SEF”), a new Swap Execution Facility (“SEF”).
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NEX SEF will allow customers to trade Non-Deliverable Forwards (NDFs) on the EBS Market platform. The new SEF is expected to have on-boarded customers and be live for trading in the second quarter of financial year 2017/2018. NEX SEF will serve as a platform that can be used to launch additional products in the future.
EBS – part of NEX Markets- provides electronic trading technology and services to the foreign exchange market.
Seth Johnson, CEO of NEX Markets, said: “NEX is committed to providing our customers with a full range of market-leading execution facilities to ensure that they can trade in whatever environment is most appropriate to them based on their regulatory requirements or specific customer needs. NEX SEF offers regulatory compliant and technically efficient trading of NDFs.”