Daniel E. Glatter

 General Counsel and Secretary

TRADITION SEF, Inc. 

 

Tradition SEF, Inc. 32 Old Slip, 28th Floor, New York, NY 10005 F 212 791 4500 www.traditionsef.com

October 7, 2019 

VIA E-MAIL (FOIAsubmissions@cftc.gov) 

Assistant Secretary of the Commission for FOIA, 

Privacy and Sunshine Acts Compliance 

Commodity Futures Trading Commission 

Three Lafayette Centre 

1155 21st Street, N.W. 

Washington, D.C. 20581 

RE: Tradition SEF, Inc. – FOIA Confidential Treatment Request 

Dear Sir or Madam: 

By e-mail dated today, October 4, 2019, Tradition SEF, Inc. (the “Submitter”) voluntarily provided the 

information attached as Exhibit A (the “Confidential Information”) and attached hereto to the Commodity 

Futures Trading Commission (the “Commission”) and staff of the Division of Market Oversight in 

connection with a Swap Execution Facility (“SEF”) rule submission made pursuant to Commission Rule 

40.6. 

Pursuant to Commission Rules 40.8 and 145.9(d), the Submitter requests confidential treatment of the 

Confidential Information consisting of Exhibit A to this submission on the grounds that disclosure of the 

Confidential Information would reveal confidential commercial and financial information of the 

Submitter and would be considered commercially material information to competitors of the Submitter. 

Unlike futures exchanges, which are registered with the Commission in a similar manner, SEFs do not 

own the products traded thereon. SEFs compete in the open market for volume and liquidity in publically 

available products. Moreover, the Submitter’s Fee Schedule reflected on Exhibit A contains engagement 

models, entry requirements and fees, all of which information is proprietary to the Submitter and forms an 

integral part of the competitive nature of the marketplace. A SEF structures its engagement model and 

fee structure to differentiate the SEF with respect to attracting liquidity. For the Submitter’s continued 

success, it is imperative that such information be treated as confidential. Accordingly, the Submitter 

requests confidential treatment of Exhibit A in its entirety. 

Pursuant to Commission Rule 145.9(d)(5), the Submitter requests that confidential treatment of the 

Confidential Information be maintained until further notice from the Submitter. The Submitter requests 

that the Commission notify it immediately after receiving any request under the Freedom of Information 

Act (“FOIA”) or any other court order, subpoena or summons for the Confidential Information. The 

Submitter specifically notes that it does not waive, in any manner, its rights under Section 8(f) of the 

Commodity Exchange Act to receive a copy of any subpoena or summons for the Confidential 

Information prior to the Commission’s disclosure of such information pursuant to such subpoena or 

summons. Finally, the Submitter requests that the Commission notify it in the event that the Commission 

intends to disclose the Confidential Information to Congress or any federal or state governmental agency 

or department. 
Assistant Secretary of the Commission for FOIA, 

Privacy and Sunshine Acts Compliance 

October 4, 2019 

Page 2 

Should you require additional information related to this request or the submission, please contact the 

undersigned at (212) 377-2337 or daniel.glatter@tradition.com. Please reference Tradition SEF 

Submission No. 2019-04 in any related correspondence. 

Sincerely, 

/s/ Daniel E. Glatter 

General Counsel and Secretary 

Att. 

 
Assistant Secretary of the Commission for FOIA, 

Privacy and Sunshine Acts Compliance 

October 4, 2019 

Page 2 

EXHIBIT A 

Confidential Information 

Exhibit B to Tradition SEF Submission No. 2019-04 (redlined version of the Fee Schedule reflecting 

changes made to the prior version).