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CFTC Press Releases·

CFTC Seeks Public Comments on Proposed Elimination of SEF Order Book Requirement for Permitted Transactions

  • The CFTC issued Release 9287-26 on August 20, 2026, seeking public comments on proposed amendments to § 37.3(a)(2).
  • The proposal seeks to eliminate the order book requirement for permitted transactions on swap execution facilities (SEFs).
  • The Commission observed that order books for permitted transactions are rarely used by market participants despite being available for all listed swaps.
  • Chairman Michael S. Selig stated the action aims to prescribe the minimum effective dose of regulation & remain true to principles-based approaches.
  • Removing the requirement provides SEFs flexibility to allocate resources & may spur innovation in execution methods.
  • Public comments will be accepted for 30 days following Federal Register publication.