ERM Glossary: Swap execution facility (SEF)

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A swap execution facility (SEF) is a type of regulated trading venue in swap contracts created by the Dodd-Frank Act in the USA with the aim of bringing greater transparency and structure to the OTC derivative market. Any swaps that are cleared will be required to be traded on such a facility if covered by this Act. A SEF is akin to an Organised trading facility (OTF) in the EU.


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