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

IGDL Market Regulation Notices

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

To learn more about ICAP SEF offerings, please complete the enquiry form.

Thank you

Thank you for subscribing to the ICAP SEF notification service.

Your details have been added to our systems and you will shortly start to receive notifications from the ICAP SEF team based on your stated preferences.

Click here to return to the ICAP SEF web pages

Thank you for subscribing to the ICAP SEF notification service.

Your details have been added to our systems and you will shortly start to receive notifications from the ICAP SEF team based on your stated preferences.

If you wish to stop receiving notifications or if you added your details in error, you can remove yourself from the service by sending a blank email to ICAPSEFNotifications@icap.com or by replying to any of the emails you receive from the service, ensuring that in either case you put “REMOVE” in the subject line of your email.

Click here to return to the ICAP SEF web pages