May 15, 2015

Submitted via CFTC Portal

Office of the Secretariat 

U.S. Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street

Washington, DC 20581

Re: Submission of Javelin SEF, LLC Rule Amendment (Submission No.15-06)

To Whom It May Concern:

Pursuant to Section 5c(c) of the Commodity Exchange Act (“CEA”) and Section 40.6(a) of the 

regulations of the Commodity Futures Trading Commission (the “Commission”) Javelin SEF, 

LLC (“Javelin SEF”) hereby submits to the Commission rule amendments to its Rulebook. 

Specifically, Javelin SEF is providing information regarding Notice to Participant No. 15-08 that 

which is related to amendments to Rule 318 that were submitted on May 8, 2015.

A concise explanation and analysis of the Rule Amendments is attached as Exhibit A. A copy of 

Notice to Participant is attached as Exhibit B. 

Javelin SEF certifies that these rule amendments comply with the CEA and the Commission’s 

Regulations. Javelin SEF further certifies that this Submission has been concurrently posted on 

Javelin SEF’s website at http://www.theJavelin.com. No substantive opposing views were 

expressed with respect to Rule Amendments. 

JAVELIN SEF, LLC 

443 PARK AVENUE SOUT H, 10 T H FLOOR • NEW YORK, NE W YORK • 10016

PHONE: (212) 7 7 9 - 2300 • FAX: 646 - 588 - 2039
Office of the Secretariat

Submission No.15-06

May 15, 2015

Page 2

If you have any questions regarding this submission, please contact me at (646) 307-5931 or 

suellen.galish@thejavelin.com. 

Sincerely, 

/s/Suellen Galish 

Senior Managing Director

General Counsel and 

Chief Compliance Officer

Attachments

cc: Mark Schlegel, Division of Market Oversight, Commodity Futures Trading Commission 

(Email: MSchlegel@CFTC.gov)
Javelin SEF, LLC

Submission No. 15-06

A-1

Exhibit A

Explanation and Analysis of Javelin SEF Rule Changes

The following is a concise explanation and analysis of the proposed rule amendments which includes the 

core principles and Commission regulations thereunder. 

Rule Explanation of Amendment(s) Applicable Core Principle and 

Commission Regulation 

NTP Regarding Rule 

318 – Chapter 1 

Defined Terms –

Definition of 

“Market Maker 

Program”

New definition of “Market Maker Program” 

added in connection with the amendments 

made to Rule 318

Core Principle 2

Regulation 37.200

Regulation 37.201

NTP Regarding Rule 

318

Amendments made to Rule 318 to provide 

clarification regarding Javelin SEF’s market 

making program.

Core Principle 2

Regulation 37.200

Regulation 37.201
Javelin SEF, LLC

Submission No. 15-06

B-1

EXHIBIT B

Copy of the Notice to Participants

Notice No. 15-08

Date: May 11, 2015

Re: Javelin SEF Interest Rate Swaps Market Maker Program 

This Notice to Participants is issued to provide an overview of Javelin SEF, LLC”s (“Javelin”) Interest Rate 

Swaps Market Maker Program. 

1. Introduction

Javelin has introduced an Interest Rate Swaps Market Maker program (the “IRS Market Maker 

Program”) in order to increase the liquidity and depth of markets in certain products. This 

Program may be changed at any time at the sole discretion of Javelin.

2. Products Available for IRS Market Maker Program

The IRS Market Maker Program is currently offered in Interest Rate Swap Products traded in 

Javelin’s central limit order book (‘CLOB”).

3. Market Maker Obligations

Market Makers must agree to make markets in one or more Interest Rate Swap Product CLOBs, 

which would include all such CLOBs offered at this time by Javelin. In the selected CLOB, the 

Market Maker must make a two-way market for a minimum percentage of each trading day, 

during the trading hours of Javelin, and for a minimum number of trading days during each 

calendar month. The bid/ask width must not exceed the maximum width allowed. 

4. Market Maker Incentives 

Participants in the IRS Market Maker Program will receive incentives as determined by Javelin. 

5. IRS Market Maker Program Duration

The IRS Market Maker Program will be in effect until cancelled by Javelin. 

6. IRS Market Maker Program Eligibility

The IRS Market Maker Program is open to all Participants on Javelin. A Participant must apply to 

Javelin for entry into the IRS Market Maker Program, and requests should be submitted by email 

to Operations@thejavelin.com.
Javelin SEF, LLC

Submission No. 15-06

B-2

For more information, or if you have any questions regarding this Notice to Participants, please contact 

Suellen Galish at suellen.galish@thejavelin.com.