Swap Execution Facility (SEF)

Alternative Investments Fixed Income Financial Terms Dictionary

Contents

Swap Execution Facility (SEF) are trading platforms designed for swap products.

They are provided by the Dodd-Frank Wall Street Reform Act of 2010.
Due to the complex nature of swaps, these platforms are not exchanges per se, but they function as a counterparty matching service.
Swaps traded on the SEF are under the control of both the SEC and the CFTC.
The volume of swaps has increased over the years, with dozens of organizations now providing SEF platforms.