New York and Frankfurt am Main – 360 Trading Networks Inc. announced today that it has received temporary registration from the Commodity Futures Trading Commission (CFTC) to operate a multi-asset class Swap Execution Facility (“SEF”).
360 Trading Network Inc., registered as Delaware limited liability company, is a wholly-owned subsidiary of 360 Treasury Systems AG, headquartered in Frankfurt, Germany. It is the leading independent global provider of a multi-bank, multi-asset trading platform, which is regulated by the German Federal Financial Supervisory Authority (BaFin).
“Receiving the temporary registration as a Swap Execution Facility is a great and important step for 360T. It is part of our path to a changing regulatory environment and changes in market mechanisms. It also adds credibility and will ensure that 360T will be the right technology partner for our existing and future customers providing them with the certainty, choice and flexibility to trade the range of different products and trading methods”, said Carlo Kölzer, Founder and CEO of 360T Group.
Daniel Conte, CEO of 360 Trading Networks Inc. added: “As a global leading multi-asset trading platform, becoming a SEF is a natural and logical step. Providing seamless execution for foreign exchange Non-Deliverable Forwards, Swaps and Options has always been a strength of 360T and registering as a SEF will provide our clients a turn-key solution to help them meet their regulatory, operational and business requirements without materially changing their workflow.”
The implementation of SEFs will contribute to the transparency of the U.S. swaps markets while preserving their trading efficiency and deep liquidity.
About 360T Group
360T is an independent and globally-established trading venue. Its fast growth confirms the company´s status as a provider of web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives.
360T´s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T´s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorised under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).
Further information: www.360t.com
Tel: +49 69 900 289 112