CFTC Approves Interdealer Brokers Tullet Prebon and Tradition as SEFs
Thursday,26/09/2013|06:50GMTby
Adil Siddiqui
Two of the world's largest and most reputable inter dealer brokers; Tradition and Tullet Prebon have been granted temporary SEF approval by the CFTC. The approvals have come in time before the October 2nd deadline.
The US authority responsible for the registration and guidance of Swap Execution Facility SEF, announced that two leading firms have been granted approval. The US Commodity Futures Trading Commission issued a notification that has granted temporary registration to Tradition and Tullet Prebon.
Transactions in FX Options and NDFs will be carried out on the newly formed Swap Execution Facility, a new trading entity formed post Dodd- Frank regulatory reforms of 2010. The US Commodity Futures Trading Commission is the main regulator overseeing the new venues.
Tullet Prebon, a leader in the trading of NDFs, tpMATCH NDF, is Tullett Prebon's electronic non-deliverable forwards matching platform, that enables traders to reduce date mismatch risk. It sits alongside our FRA matching platform, tpMATCH, which was successfully launched in 2009 to allow rates traders to reduce LIBOR risk across major currencies.
Tradition is a strong player in the world of FX Options. After the firm's collaboration with ICAP's FX Options desk in 2000, it has developed itself to be one of the leading venues. The firm offers FX Options trading via Volbroker.
For firms looking to start a trading relationship with Tullet Prebon's new SEF, they are obliged to complete the necessary requirements on its SEF dedicated web page, Tullet Prebon outlines the procedure, "We would ask that interested customers complete both the IT and Legal/Compliance onboarding packs which are available upon request."
The CFTC issued a October 2nd deadline for firms to receive temporary registration. Under the current terms, firms that are approved need to ensure that they adhere to all guidelines set by the CFTC. As of yet no firm's application has been rejected.
The US authority responsible for the registration and guidance of Swap Execution Facility SEF, announced that two leading firms have been granted approval. The US Commodity Futures Trading Commission issued a notification that has granted temporary registration to Tradition and Tullet Prebon.
Transactions in FX Options and NDFs will be carried out on the newly formed Swap Execution Facility, a new trading entity formed post Dodd- Frank regulatory reforms of 2010. The US Commodity Futures Trading Commission is the main regulator overseeing the new venues.
Tullet Prebon, a leader in the trading of NDFs, tpMATCH NDF, is Tullett Prebon's electronic non-deliverable forwards matching platform, that enables traders to reduce date mismatch risk. It sits alongside our FRA matching platform, tpMATCH, which was successfully launched in 2009 to allow rates traders to reduce LIBOR risk across major currencies.
Tradition is a strong player in the world of FX Options. After the firm's collaboration with ICAP's FX Options desk in 2000, it has developed itself to be one of the leading venues. The firm offers FX Options trading via Volbroker.
For firms looking to start a trading relationship with Tullet Prebon's new SEF, they are obliged to complete the necessary requirements on its SEF dedicated web page, Tullet Prebon outlines the procedure, "We would ask that interested customers complete both the IT and Legal/Compliance onboarding packs which are available upon request."
The CFTC issued a October 2nd deadline for firms to receive temporary registration. Under the current terms, firms that are approved need to ensure that they adhere to all guidelines set by the CFTC. As of yet no firm's application has been rejected.
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Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
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