UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION

In the Matter of the Application of
Bloomberg SEF LLC for
Registration as a Swap Execution Facility

ORDER OF REGISTRATION

Bloomberg SEF LLC (“BSEF”) has submitted to the Commodity Futures Trading
Commission (“Commission” or “CFTC”), pursuant to Section Sh of the Commodity Exchange
Act (“Act”), 7 U.S.C. § 7b-3, and Commission regulation 37.3(b), 17 C.F.R. § 37.3(b), an
application for registration as a swap execution facility, which includes submissions dated June

4, 2013 through January 21, 2016.

Having reviewed BSEF’s application, the Commission HEREBY ORDERS that,
pursuant to Section Sh of the Act and Commission regulation 37.3(b)(6)(), BSEF is granted
registration as a swap execution facility, subject to the terms and conditions specified herein:

(1) BSEF shall comply with all representations and submissions made by BSEF in
support of its application for registration as a swap execution facility, as shown in the application
record;

(2) BSEF shall comply with all provisions of the Act and all requirements set forth in
the Commission’s regulations, as may be amended or adopted from time to time, that are
applicable to swap execution facilities, provided that as prior relief granted by Commission staff

pursuant to Commission regulation 140,99 remains in effect:



{a) In lieu of complying with the specific requirements of Commission |
regulations 37.9(a)(2) and 37.203(a) that are addressed in CFTC Letter No. 15-24, BSEF
shall comply with the terms and conditions of CFTC Letter No. 15-24, for the duration |
set forth therein;

(b) In lieu of complying with the specific requirements of Commission
regulations 37.6(b), 37.1000, 37.1001, 45.2(a) and 45.3(a) that are addressed in CFTC
Letter No, 15-25, BSEF shall comply with the terms and conditions of CFTC Letter No.
15-25, for the duration set forth therein;

(c) In lieu of complying with the specific requirements of Commission
regulation 43.2 that are addressed in CFTC Letter No. 15-60, BSEF shall comply with the
terms and conditions of CFTC Letter No. 15-60, for the duration set forth therein;

(d) ‘In Jieu of complying with the specific requirements of Commission
regulations 37.205(a) and 37.205(b)(2) that are addressed in CFTC Letter No. 15-68,
BSEF shall comply with the terms and conditions of CFTC Letter No, 15-68, for the
duration set forth therein; and

(e) In lieu of complying with the specific requirements of Commission
regulations 37.3(a)(2) and 37.9 that are addressed in CFTC Letter No. 15-55, BSEF shall,
for the duration set forth therein, comply with the terms and conditions of CFTC Letter

No. 15-55, and shall, in accordance with such terms and conditions, facilitate the

execution of a swap that is subject to the trade execution requirement set forth in section
2(h)(8) of the Act, and is a component of a MAT/New Issuance Bond Package
Transaction, MAT/Futures Package Transaction, MAT/Non-MAT Uncleared Package

Transaction, MAT/Non-Swap Instruments Package Transaction or MAT/Non-CFTC


Swap Package Transaction, as each such term is defined in CFTC Letter No, 15-55,

through any method of execution offered by BSEF, subject to and in compliance with

BSEF’s rules, policies and procedures; and

(3)  BSEF shall be responsible for compliance with the terms and conditions of this
Order of Registration, with respect to all regulatory services performed by any third party service

provider on behalf of BSEF, within or outside of the jurisdiction of the United States.
Issued in Washington, D.C, on this 22nd day of January, 2016.

By the Commission

Tb! | Debi

Christopher J. Kirkpatrick
Secretary of the Commission