What is TraditionSEF’s status with the CFTC?
Effective as of January 22, 2016, the Commodity Futures Trading Commission granted TraditionSEF registration as a swap execution facility.
Is TraditionSEF a separate legal entity from the existing Tradition entities?
Yes, TraditionSEF, LLC is a separate legal entity and operates as a wholly owned subsidiary of Compagnie Financiere Tradition, S.A. within the Tradition Group of Companies.
How is TraditionSEF Identified?
TraditionSEF is identified via our unique LEI, which is : 549300MBO45EHETL4438 and our MIC Code : “TSEF”
What asset classes, products and currencies are supported by TraditionSEF?
Tradition operates a multi-asset SEF covering all major asset classes and associated currencies (Rates, Credit, FXO, FX NDF, Equity Derivatives and Commodity swaps). We support trade processing and execution in almost all OTC Swap types as defined by the CFTC, including “Required” and “Permitted” Products (See ‘Product Listed for Trading’ section below).
What are the operating and service hours of TraditionSEF?
TraditionSEF operates on days which are business days in Hong Kong, Singapore, Tokyo, London and New York. For purposes of determining if a day is a New York business day, the NYSE must be open and such day may not be a SIFMA- recommended full day holiday. Days subject to early close in any jurisdiction will constitute a business days regardless.
Days are calculated by reference to Eastern Prevailing Time in the United States. On any day on which TraditionSEF is operating, our logical “close” and subsequent end of day maintenance and report generation will be conducted between the hours of 5:30PM and 6:30PM Eastern Time. Trades executed after 5:30pm will be reported in the following day trade reports.
TraditionSEF reserves the right to close on different days or times if requested or required to do so by the CFTC, or where there is a force majeure event, such as hurricanes, flooding, terrorist attack or otherwise affecting the above-mentioned location generally, any relevant market infrastructure or TraditionSEF’s facilities in particular.
Does TraditionSEF have a published Fee Schedule?
TraditionSEF’s Fee Schedule is available upon request by contacting our onboarding and Administration Department at : TradsefOB@Tradition.com
How Does TraditionSEF keep its client community informed as to changes in opening hours, Fees and other operational matters?
Upon an affected change, TraditionSEF will distribute a “Notice To Participants” to all registered Authorized Representatives of Participants, Broker Firm Participants and Clearing Firms. Notices are also posted to the TraditionSEF website here.
Do position limits apply to IR swaps ?
There are currently no position limits imposed by the CFTC and we do not currently have them. For our position limits and exemptions, please view TraditionSEF Rule 532.