TeraExchange, LLC

P.O. Box 169 

Summit, NJ 07901

Via CFTC Portal Submission

December 16, 2020

Christopher Kirkpatrick 

Office of the Secretariat

Commodity Futures Trading Commission 

Three Lafayette Center

1155 21st Street, N.W. 

Washington, DC 20581

Re: Certification under CFTC Regulation 40.6(a) 

TeraExchange, LLC – Rulebook Amendment

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c) of the Commodity Exchange Act, as amended (the “Act”), and 

Section 40.6(a) of the Regulations of the Commodity Futures Trading Commission (the 

“Commission”), TeraExchange, LLC (“TeraExchange”), a registered swap execution facility, 

hereby notifies the Commission that it has amended its Rulebook.

A concise summary of the amended Rules is attached as Exhibit A. The text of the amended 

Rulebook marked to show changes from the prior version is attached as Exhibit B. Any 

additions are underlined, and deletions struck through. A clean copy of the amended Rulebook is

attached as Exhibit C.

The amended Rules will take effect on December 31, 2020, ten business days following this 

submission.

TeraExchange hereby certifies that: (i) these amendments comply with the requirements of the

Act and the rules and regulations of the Commission promulgated thereunder, and (ii)

concurrent with this filing, TeraExchange will post a copy of this submission on its website. 

There were no substantive opposing views expressed regarding these amendments. Confidential 

treatment is not requested.
Please contact the undersigned at 908-273-8277 or by e-mail at crossman@teraexchange.com with 

any questions regarding this matter.

Respectfully submitted,

Christopher Rossman

Christopher Rossman 

Chief Compliance Officer 

TeraExchange, LLC

Enclosures
Exhibit A

Explanation of Amended Rules

TeraExchange has amended its Rulebook as provided below. Capitalized terms used but not 

defined herein have the meanings assigned to them in the Rulebook.

Section/Rule Description of Revision

Reason and/or 

Supporting Core 

Principle or Regulation

Cover Page Updated version number and effective date Conforming changes

Rule 404(d) Rule amended to update reference to No 

Action Letter 17-54 (now NAL 20-36) and 

expiration date

Update reference to No 

Action Letter

Rule 514(h) Rule amended to update reference to No 

Action Letter 17-60 (now NAL 20-35) and 

expiration date

Update reference to No 

Action Letter

Rule 531(d) Rule amended to clarify Executing Firm 

prohibition of counterparty name disclosure 

for Transactions pre-arranged or prenegotiated anonymously and intended to be 

cleared

Edit rule for clarity

Rule 537 Rule amended to clarify prohibition of 

counterparty name disclosure for 

Transactions pre-arranged or pre-negotiated 

anonymously and intended to be cleared; 

Clarify when Rule is not applicable

Edit rule for clarity 

following Commission 

comments

Rule 704(c) Rule amended to update reference to No 

Action Letter 17-54 (now NAL 20-36) and 

expiration date

Update reference to No 

Action Letter

Annex B Add Product Terms and Conditions for 

recently certified IRS products

Add Product Terms and 

Conditions to Rulebook
EXHIBIT B

TeraExchange Rulebook v1.18 (redline)

[see attached]
EXHIBIT C

TeraExchange Rulebook v1.18 (clean)

[see attached]