Integral announces plans to launch SEF

Integral announces plans to launch SEF

First Published 17th May 2013

Integral reassures customers with SEF plans in light of CFTC deadline. NDFs available now, other services to follow. Seamless user experience promised for both regulated and unregulated products.

Harpal Sandhu, CEO, Integral Development Corp

Harpal Sandhu, CEO, Integral Development Corp

“We foresee a better, fairer market place, and we are working jointly with many broker/dealers to deliver that to our and their customers.”

Palo Alto, California – Integral Development Corp. the provider of FX trading solutions and services, has announced that it is ready to provide its customers with a Swap Execution Facility (SEF) in time to meet stated deadlines by the U.S. Commodity Futures and Trading Commission (CFTC). This announcement follows yesterday’s decision by the CFTC on ‘Final Rulemaking Regarding Core Principles and Other Requirements for SEFs’.

“We have been working diligently in anticipation of this milestone and will continue on this path now that the final rulemaking has occurred,” said Harpal Sandhu, CEO, Integral Development Corp. “Our customers can continue to focus on building their businesses in the knowledge that we as their service provider will be ready with a regulatory compliant solution.”

As every other capability offered through FX Grid, the SEF will be provided as a cloud service. FX Grid is Integral’s inter-institutional connectivity and trading network, linking market making banks to FX market participants. Immediately, FX Inside Professional, Integral’s private FX trading system for spot, outrights, and swaps will also include Non-Deliverable Forwards (NDFs). Other instruments stand to follow as the regulatory framework is being finalized.

Integral’s SEF will be branded INFX SEF and will be a wholly-owned subsidiary of Integral Development Corp.

“Contrary to how it is sometimes portrayed in public, SEFs are not about the displacement of broker/dealers,” added Sandhu. “We foresee a better, fairer market place, and we are working jointly with many broker/dealers to deliver that to our and their customers. I encourage everyone to talk to their dealer or to us to find out how to take advantage of this upcoming change.”

The final rulemaking implements Section 733 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), which added Section 5h of the Commodity Exchange Act (CEA) governing the registration and operation of swap execution facilities (SEFs).

About carlarweir
I am a Cross Asset FIX Connectivity SME working for international banks. i also sit on the FIX Protocol Ltd Global Steering Committee, and am Co-Chair of the Global Cross Asset Committee. I also have a very strong background in Mobile Telephony, Cloud computing, SaaS, IaaS, PaaS, Big Data, innovation, and am a pioneer in Pseudolite technology.

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