TeraExchange, LLC

P.O. Box 169

Summit, NJ 07901

March 30, 2018

Via CFTC Portal Submission

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 April 13, 2018, 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, which may be accessed

at www.teraexchange.com/home/rulesnotesdocs. 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 

Attachments: 

Exhibit A: TeraExchange Rulebook Amendments and Explanations 

Exhibit B: TeraExchange Rulebook (Redline)

Exhibit C: TeraExchange Rulebook (Clean)
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 pagination and added missing 

Annex B reference

Conforming and cleanup changes

Rule 404(d) Rule amended to remove reference to expired 

No Action Letter 15-68 and add new 

reference to No Action Letter 17-54 

regarding audit trail requirements relating to 

post-trade allocations, and new expiration 

date.

Core Principles 2 and 5

Regulation 37.205; 

37.500; 37.501

Rule 514(h) Rule amended to remove reference to expired 

No-Action Letter 15-60 and add new 

reference to No-Action Letter 17-60

regarding block trades, and new expiration 

date.

Core Principle 2

Regulation 37.200

Rule 608(b) Rule amended to remove reference to expired 

No-Action Letter 16-25 and add new 

reference to No-Action Letter 17-17

regarding Uncleared Transaction Trade 

Communications and Terms Incorporated by 

Reference, and new expiration date.

Core Principles 2 and 10

Regulations 37.6; 

37.1000; 37.1001

Rule 704(c)(vii) Rule amended to remove reference to expired 

No-Action Letter 15-68 and add new 

reference to No-Action Letter 17-54

regarding SDR Reporting requirements 

relating to post-trade allocations, and new 

expiration date.

Core Principles 2 and 5

Regulation Part 45
Rule 903 Rule amended to remove reference to expired 

No-Action Letter 15-24 and add new 

reference to No-Action Letter 17-27

regarding Cleared Error Trades, and new 

expiration date.

Core Principle 2

Regulation 37.9(a)(2)