The regulated trading of certain swaps is a result of requirements in the United States by the Dodd–Frank Wall Street Reform and Consumer Protection Act (in particular Title VII).
[5] The SEF-execution mandate responds to one of the four derivatives-related European Union, have proposed similar changes in swap market structure[6] but none have yet been adopted.
[9] Many of the foregoing entities, directly or through affiliates, have pending or temporarily approved SEF registrations with the CFTC.
Note: above established entities section is for firms that had significant swaps business ahead of the sweeping regulatory reform.
The following list is oriented to newer entrants (emerging after the Dodd-Frank Act), representing less established participants.