Swap execution facility (SEF) - Financial definition
Concise definition of the term swap execution facility
A swap execution facility is a platform that allows participants to buy and sell swaps in a regulated and transparent manner.
Comprehensive definition of the term swap execution facility
SEFs were defined by the Dodd-Frank Act as «a facility, trading system or platform in which multiple participants (can) execute or trade swaps by accepting bids and offers made by other participants that are open to multiple participants in the facility or system, through any means of interstate commerce.»