Tradeweb Markets Inc. announced that the U.S. Securities and Exchange Commission (SEC) has approved the registration of its swap execution facility, TW SEF LLC, as a security-based swap execution facility (SBSEF). This approval follows the SEC's new Regulation SE requirements.
With this registration, TW SEF is now eligible to operate as an SBSEF, allowing institutional clients to trade single-name credit default swaps (CDS) in compliance with the new regulatory framework. This represents a significant step towards fostering greater transparency in institutional single-name CDS markets.
TW SEF is already the largest swap execution facility for vanilla swaps, having traded over $150 trillion in 2024, accounting for 52% of industry-wide SEF volume. In 2024, TW SEF facilitated over $590 billion in average daily volume, serving more than 57 liquidity providers and over 1,000 institutional clients.
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