Tradeweb’s Made Available to Trade Determination

SIFMA and the International Swaps and Derivatives Association, Inc. (ISDA) provide comments to the Commodity Futures Trading Commission (CFTC) on the Made Available to Trade (MAT) submission by TW SEF LLC (Tradeweb) for certain swaps (Submission Swaps) pursuant to Section 5(c) of the Commodity Exchange Act (CEA) and CFTC regulations.

SIFMA supports the contract-by-contract approach taken by Tradeweb with respect to the six factors set out in the Tradeweb submission. SIFMA also supports Tradeweb’s approach to showing how it meets the listing requirement by demonstrating how it supports the trading of the Submission Swaps. In addition, SIFMA requests that the CFTC address the cross-border and packaged swap issues that will become even more important as a result of a MAT determination.