TeraExchange, LLC

P.O. Box 169 

Summit, NJ 07901

Via CFTC Portal Submission

October 29, 2021

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 November 15, 2021, 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

Table of Contents Updated Table of Contents to include 

Product references

Conforming changes

Rule 536 Correct reference to No-Action Letter 20-01

to compliance in accordance with CFTC 

Regulation 37.9(e) with respect to 

operational or clerical errors or omissions

Correct rule reference

Rule 537 Correct reference to final CFTC Regulation 

37.9(f) regarding Post Trade Anonymity

Strike reference to Post Trade Anonymity 

compliance dates

Edit rule for clarity

Annex A Stylistic change to heading Stylistic change

Annex B Stylistic change to heading Stylistic change

Annex B Add Product Terms and Conditions for 

recently certified IRS and FX products:

Basis Swaps:

AUD BBSW vs AONIA

USD LIBOR vs AUD BBSW

USD SOFR vs AUD BBSW

USD SOFR vs AUD AONIA

NZD BKBM

NZD BKBM vs NZONIA

USD LIBOR vs NZD BKBM

USD SOFR vs NZD NZONIA

Overnight Index Swaps:

CHF SARON

EUR EuroSTR

JPY TONA

NZD NZONIA

Add Product Terms and 

Conditions to Rulebook
IRS Swaptions:

USD LIBOR Fixed for Floating Swaption

EUR EURIBOR Fixed for Floating Swaption

JPY LIBOR Fixed for Floating Swaption

AUD BBSW Fixed for Floating Swaption

NZD BKBM Fixed for Floating Swaption
EXHIBIT B

TeraExchange Rulebook v1.19 (marked)

[see attached]
EXHIBIT C

TeraExchange Rulebook v1.19 (clean)

[see attached]