solutions & capabilities

Thomson Reuters SEF

Trade FX non-deliverable forwards and FX options electronically 
The Thomson Reuters Swap Execution Facility (SEF) launched in October 2013 and is regulated by the CFTC. It received permanent approval status in January 2016. 

The Thomson Reuters SEF allows customers to trade FX non-deliverable forwards (NDFs) and FX options electronically through multibank request-for-stream (RFS) liquidity and an anonymous Order Book. Customers benefit from a best execution solution that provides a complete end-to-end workflow solution, including straight-through processing (STP) and settlement. 

The Thomson Reuters SEF has specifically been developed to enable you to meet your clearing and reporting obligations as mandated by the Dodd-Frank Act (DFA).

  • One platform for trading FX spot, forwards, swaps, NDFs and options electronically with SEF and non-SEF execution
  • Ensure a smooth transition to when NDFs are mandatory cleared and must trade on SEFs
  • Access deep liquidity from over 160 banks and 1,700 clients with choice in execution via multibank RFS and anonymous Order Book flows
  • Streamline your workflow with a comprehensive solution including straight-through processing, settlement and post trade messaging to the DTCC and clearing houses
  • Achieve best execution on a regulated platform that includes compliance, pre-trade price transparency credit limit checks and reporting
  • Multiple Legal Entity Identifiers (LEIs), Designated Clearing Organizations (DCOs) per entity
  • Entitlements for SEF-authorized accounts and users
  • End User Exemptions
  • Granular customer mapping, using multiple legal entities (DFA or not) to map DFA entities to DFA clients, non-DFA entities to non-DFA clients
  • Self-clearers and client clearing