Tradeweb Markets, a developer and provider of electronic trading and trade processing for the financial markets, has appointed Bob Paul, a former general counsel of the Commodity Futures Trading Commission, as a member of its global compliance and legal team. The move positions the firm with a seasoned chief compliance officer in place for its swap execution facility (SEF), following finalization of derivatives regulation by the CFTC and the Securities and Exchange Commission.
Tradeweb has been actively preparing for the registration of its current swaps platform as a SEF for more than a year. Among the initiatives completed in preparation for the new rules are electronic links to all the major clearing houses, integration with order management systems, development of “SEF-ready” trading protocols, and a legal review of requirements to rapidly complete SEF registration.
