Swap Execution Facility

A Next-Generation Swap Execution Facility

Cboe SEF (Swap Execution Facility) brings Cboe’s track record of innovation to the Non-Deliverable Forwards (NDFs) market. With the launch of Cboe SEF, market participants can trade NDFs on emerging market currencies for the first time on Cboe’s awardwinning technology. Cboe SEF delivers a next-generation market model that incorporates:

^*Available tenors for each currency pair can be found here

Get Connected

Become a Participant on Cboe SEF as a:

• Principal Trading Firm – for executing dealers with an ability to settle trades
• Trading Firm – for proprietary trading firms that utilize a prime broker for credit
• Prime Broker – for Prime Brokers that extend credit to their clients

Physical connectivity to the Cboe Spot Market at NY5 and LD4 can be leveraged to seamlessly access Cboe SEF.

To learn more, please visit our Rulebook or contact .

SEF Resources

Documents, Submissions, & Notices to Participants

Onboarding

Application

• Cboe SEF Participant Application

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Holidays & Hours

Unless otherwise noted in the Product specification for a Product listed in Chapter 10 of the SEF Rules, the Trading Hours of the SEF begin on each Sunday at 5:00 p.m. ET, and end on the following Friday at 5:00 p.m. ET, with a suspension of trading between 5:00 p.m. ET and 5:30 p.m. ET on each of the Monday through Thursday during each such period, with the exception of Christmas Day (December 25) and New Year’s Day (January 1) in each year, on which days the SEF will be closed.

Market Data

Last 5 Business Days

• Mar 24, 2023
• Mar 23, 2023
• Mar 22, 2023
• Mar 21, 2023
• Mar 20, 2023

You may request additional historical data by contacting [email protected]

* As of Trade Date April 18, 2019, all Cboe SEF, LLC volumes are shown as single-counted notional values.

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