NEX Group announces that NEX SEF Limited went live on 3 July 2017
06 July 2017
London, New York – NEX Group plc (“NEX”) (NXG.L), a financial technology company at the centre of global markets, announces today that its Swap Execution Facility (“SEF”), NEX SEF Limited (“NEX SEF”), went live on 3 July 2017.
NEX SEF received approval from the Commodity Futures Trading Commission (CFTC) in April 2017 and is also authorised and regulated with the Financial Conduct Authority (FCA). Registration with the CFTC and the FCA will allow NEX SEF to service customers and traders from the United States and European Economic Area. NEX SEF has also received exemption from the requirement to be recognised as an exchange from the Ontario Securities Commission (OSC), and is therefore approved for servicing customers in Ontario. NEX SEF will operate as a Multi-Lateral Trading Facility (MTF) in accordance with MiFID and will comply with MiFID II and MiFIR from 3 January 2018.
NEX SEF will initially allow customers to trade Non-Deliverable Forwards (NDFs) on NEX Markets’ EBS Market platform and will be used to launch additional products and services in the future.
Seth Johnson, CEO of NEX Markets, said: “NEX SEF is instrumental in NEX’s mission to provide trading environments to suit the full range of our customers’ needs. We are pleased to bring NDF trading to NEX SEF and will continue to evolve the platform alongside our customers.”
For more information, please refer to www.nexsef.com.
NEX Markets A NEX Group business, NEX Markets helps customers access liquidity and execute efficiently. We operate at the heart of the foreign exchange and fixed income global markets providing electronic trading technology and services. We offer access to multiple execution options, valuable liquidity from diverse sources and help execute transactions efficiently. Our financial technology, platforms and products are continuously evolving to meet the needs of a globally diverse community of professional traders who depend upon our services. For more information, go to www.nexmarkets.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com