Our Swap Execution Facility (SEF)
Welcome to TP ICAP’s SEF information page.
TP ICAP has served OTC and exchange traded derivatives customers for many years by offering fair, liquid and robust markets. The regulatory framework that has been created in the US by the Dodd-Frank Act provided us with the opportunity to leverage our expertise in operating these markets and expand our services to create Swap Execution Facilities (SEF) encompassing a broad set of asset classes and currencies.
In advance of the SEF rule, we launched a number of electronic and voice/electronic hybrid platforms that serve as the basis for many of our SEF products. We are dedicated to serving our customers and will help them to meet their regulatory obligations related to SEF trading.
TP ICAP is committed to our customers and in keeping them informed, and we continually update our website with new information.
TP ICAP as a SEF
TP ICAP currently operates two multi-asset SEFs registered with the Commodity Futures Trading Commission – ICAP Global Derivatives Limited (IGDL) and tpSEF, Inc. Effective October 30, 2017, the business of ICAP SEF (US) LLC was transitioned to tpSEF. As of that date, ICAP SEF (US) LLC has ceased executing trades as a SEF.
Further information on TP ICAP’s SEFs, including IGDL's Facility Rulebook andtpSEF’s Rulebook, is now available on this page and on the Regulation tab above. Additional information on tpSEF is also available on tpSEF’s website, click here.
Please do not hesitate to reach out to your TP ICAP contacts if you would like to discuss any questions or concerns you may have about on-boarding. We have a team of people dedicated to helping our customers through this process. You may also send any questions about on-boarding, SEF workflow or the rulebook to SEFOn-boarding@icap.com for IGDL and tpSEFOnboarding@tullettprebon.com for tpSEF.
IGDL Rulebook
tpSEF Rulebook
tpSEF CFTC Filings
tpSEF Market Regulation Notices
IGDL CFTC Filings
- Amendments to Fee Schedule/Discount Structure – April 9, 2019
- Rule Amendment Filing – March 3, 2019
- Rule Amendment Filing – November 29, 2018
- Rule Amendment Filing – July 17, 2018
- Rule Amendment Filing – May 23, 2018
- Rule Amendment Filing – May 23, 2018
- Rule Amendment Filing – May 09, 2018
- Rule Amendment Filing – December 18, 2017
- Rule Amendment Filing – November 29, 2017
- Rule Amendment Filing – September 12, 2017
- Rule Amendment Filing – August 16, 2017
- Rule Amendment Filing – July 27, 2017
- Rule Amendment Filing – June 20, 2017
- Rule Amendment Filing – February 08, 2017
- Rule Amendment Filing – November 1, 2016
- Rule Amendment Filing – July 22, 2016
- Rule Amendment Filing – July 11, 2016
- Rule Amendment Filing – June 28, 2016
- Rule Amendment Filing – May 19, 2016
- Rule Amendment Filing – May 16, 2016
- Rule Amendment Filing – May 16, 2016
- Rule Amendment Filing – March 17, 2016
- Rule Amendment Filing – February 22, 2016
- Rule Amendment Filing – February 16, 2016
- Rule Amendment Filing – January 20, 2016
- Rule Amendment Filing – November 25, 2015
- Rule Amendment Filing – October 15, 2015
- Rule Amendment Filing – August 20, 2015
- Revised Fee Schedule – June 16, 2015
- Rule Amendment Filing – May 28, 2015
- Rule Amendment Filing – May 7, 2015
- Rule Amendment Filing – April 24, 2015
- Revised Fee Schedule – March 24, 2015
- Rule Amendment Filing – March 24, 2015
- Rule Amendment Filing – March 19, 2015
- Revised Fee Schedule – March 17, 2015
- Revised Fee Schedule – February 12, 2015
- Rule Amendment Filing – January 30, 2015
- Revised Fee Schedule (2nd Amendment) – January 28, 2015
- Rule Amendment Filing – January 26, 2015
- Revised Fee Schedule (Amendment) – January 21, 2015
- Revised Fee Schedule – January 15, 2015
- Rule Amendment Filing – October 10, 2014
- Rule Amendment Filing – September 16, 2014
- Rule Amendment Filing – August 6, 2014
- Amended Emergency Rule Filing – July 29, 2014
- Emergency Rule Filing – July 28, 2014
- Rule Amendment Filings – July 18, 2014
- IGDL-2014-R-3 – Rulebook v1.2 to v1.3 – Emergency Rule Change – June 25, 2014
- Rule Amendment Filing – May 30, 2014
- Product Filing – May 9, 2014
- Rule Amendment Filing – May 16, 2014
- Rule Amendment Filing – IRS CLOB Market Maker Program – May 30, 2014
IGDL Market Regulation Notices
- MRAN IGDL 2017-1 – February 10, 2017
- MRAN IGDL 2016-10 – December 14, 2016
- MRAN IGDL 2016-7 – August 19, 2016
- MRAN IGDL 2016-7 – July 11, 2016
- MRAN IGDL 2016-6 – June 22, 2016
- MRAN IGDL 2016-5 – May 24, 2016
- MRAN IGDL 2016-4 – June 1, 2016
- MRAN IGDL 2016-3 – February 25, 2016
- MRAN IGDL 2016-2 – February 16, 2016
- MRAN IGDL 2016-1 – January 28, 2016
- MRAN IGDL 2015-7 – October 29, 2015
- MRAN IGDL 2015-6 – September 24, 2015
- MRAN IGDL 2015-5 – August 21, 2015
- MRAN IGDL 2015-4 – June 25, 2015
- MRAN IGDL 2015-3 – June 16, 2015
- MRAN IGDL 2015-2 – June 12, 2015
- Breakage Agreements Prohibited - MRAN IGDL 2015-1 – February 6, 2015
The SEF board of directors includes:
- Shawn Bernardo
- James Quaile
- John Spencer
- David Perkins
The files below provide the previous day's activity for the IGDL and tpSEF including high, low, first and last price and total volume. For additional information please see the CFTC Part 16 Swaps Reporting Daily Price and Volume Activity document available on the CFTC’s website.
ICAP Global Derivatives Ltd (IGDL)
tpSEF Inc.
All hours of operation are listed in local time
IGDL HOURS OF OPERATION
Sunday 3:00pm New York time to Friday 5.30pm New York time
IGDL HOLIDAY CLOSURES
December 25, 2017 - Christmas Day
January 1, 2018 - New Year's Day
tpSEF HOURS OF OPERATION
For information on tpSEF, click here
I-SWAP HOURS OF OPERATION
7.30am London time to 5.30pm New York time, Monday to Friday
I-SWAP HOLIDAY CLOSURES
January 1, 2018 - New Year's Day
January 15, 2018 - Martin Luther King Day
February 19, 2018 - President's Day
March 30, 2018 - Good Friday
May 28, 2018 - Memorial Day
July 4, 2018 - Independence Day
September 3, 2018 - Labor Day
October 08, 2018 - Columbus Day
November 12, 2018 - Veteran's Day
November 22, 2018 - Thanksgiving Day
December 25, 2018 - Christmas Day
Thank you
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