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ARTICLE · 17 JANUARY 2014

Update Regarding Trade Execution Mandate For Certain Interest Rate Swaps

Ropes & Gray LLP
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The Commodity Futures Trading Commission ("CFTC") Division of Market Oversight (the "Division") announced yesterday that Javelin SEF, LLC’s ("Javelin") self-certification of available-to-trade determinations ("MAT Determinations") for certain benchmark interest rate swap contracts is deemed certified.

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The Commodity Futures Trading Commission ("CFTC") Division of Market Oversight (the "Division") announced yesterday (January 16, 2013) that Javelin SEF, LLC's ("Javelin") self-certification of available-to-trade determinations ("MAT Determinations") for certain benchmark interest rate swap contracts is deemed certified. Under CFTC regulations, the swaps that are subject to these MAT Determinations, whether listed or offered by Javelin or any other designated contract market ("DCM") or swap execution facility ("SEF"), must be executed through a DCM or a SEF beginning no later than February 15, 2014. Please refer to Ropes & Gray's prior Alert for more information.

Beginning on February 15, 2014, the following fixed-to-floating interest rate swaps must be executed through a DCM or a SEF:

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