The Tradetech Daily



Paul MillwardEmail: sefmembership@GFIgroup.comTel: +1 212 968 4100

GFI’s SEF allows counterparties to execute trades through a wide selection of execution protocols, including:



Session-based matching

Central limit order book


GFI’s SEF operates markets via its trading venues
for trading of:

Credit derivatives

Interest rate derivatives

FX derivatives

Equity derivatives

Energy and commodity swaps

GFI’s SEF intends to go through the made available to trade process for
the rates and credit index contracts that are approved by the CFTC on other


Members must sign a participation agreement and
adhere to GFI SEF rules. Members may also ‘sponsor’ their own customers into
the SEF. Members who wish to trade cleared products require a futures
commission merchant to guarantee the trade. Bilateral products require
bilateral agreements.

GFI has maintained a liquid marketplace for OTC
derivatives for more than 25 years and its SEF offers access to marketplaces
across multiple asset classes and a choice of multiple execution venues for a
breadth of market participants. Venues are fully electronic or voice-assisted,
to suit client requirements. Notional sizes are geared toward professional and
institutional members.


GFI’s SEF has more than 100 members and has seen a
steady increase in volumes across asset classes since its launch. Daily volumes
are posted on the GFI SEF website. The SEF intends to have market maker
programs where applicable.


GFI SEF offers a breadth of post-trade services
including straight-through processing, reconciliation and trade capture.

Future plans

The firm will constantly seek to innovate to meet the expectations of its clients. Future plans include credit hub integration, an allocation service and new execution functionality.