10/1/2013

SURFACExchange and Digital Vega are expressing concern about uncertainty surrounding swap-execution facilities. The electronic options platforms say they will not make Wednesday's deadline for applying with the Commodity Futures Trading Commission to become SEFs. "We continue to work hard on completing our temporary SEF application, but given the volume of open questions and ongoing lack of clarity around several key constituents, we have decided to err on the side of caution and file the application only when we have much greater certainty that we are able to meet all the necessary criteria," Digital Vega CEO Mark Suter said.

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