Bats Global Markets completed its acquisition of Javelin SEF, a swap execution facility (SEF).
The deal was announced on August 11, 2016 and received approval from the Commodity Futures Trading Commission (CFTC) on October 23, 2016.
Javelin has been integrated with Bats Hotspot, the institutional FX trading platform, in order to enable trading in non-deliverable forwards (NDFs). Hotspot already offers trading in outright deliverable forward contracts. Dodd Frank Act provisions mandate that certain market participants have to trade NDFs on SEFs.