exchange

SEC Proposed Rule for Security-Based Swap Execution Facilities

On February 2, the SEC proposed rules defining security-based swap execution facilities and establishing their registration requirements, duties and core principles. The proposed rules would also establish the process for security-based swap execution facilities to file rule changes and new products with the SEC and exempt security-based swap execution facilities from the definition of “exchange” and from most regulation as brokers. Comments on the proposed rules must be submitted by April 4. SEC Release.