UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION

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

ORDER OF REGISTRATION

trueEX LLC (“trueEX”) has submitted to the Commodity Futures Trading Commission
(“Commission” or “CFTC”), pursuant to Section 5h 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 July 15, 2013 through
January 7, 2016.

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

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

(2) trueEX 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,
trueEX 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
Regulation 43,2 that are addressed in CFTC Letter No. 15-60, trueEX shall comply with
the terms and conditions of CFTC Letter No. 15-60, for the duration set forth therein;

(c) In lieu 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,
trueEX shall comply with the terms and conditions of CFTC Letter No. 15-68, for the
duration set forth therein; and

(d) 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, trueEX
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 trueEX, subject to and in compliance with

trueEX’s rules, policies and procedures; and



(3)  trueEX 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 trueEX, 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

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Christopher J. Kirkpatrick
Secretary of the Commission