Tradeweb lodges MAT application for SOFR and Sonia swaps

If accepted by the CFTC, trades referencing the benchmarks must be traded on-Sef from June 1


Tradeweb has asked the Commodity Futures Trading Commission (CFTC) to mandate that the most widely used interest rate swaps linked to the US secured overnight financing rate (SOFR) and Sonia benchmarks be traded on a swap execution facility (Sef).

If accepted by the regulator, it will be the first time in a decade that the products required to be traded on-Sef have been expanded.

In its application lodged with the CFTC today (April 12), Tradeweb’s TW Sef is asking for SOFR swaps with tenors of

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