SEB now registered swap dealer under US Dodd-Frank Act
ET | Source:Skandinaviska Enskilda Banken AB
SEB is now a registered swap dealer for clients and counterparties that fall
within US regulation. As a registered swap dealer, SEB complies with regulatory
requirements stipulated in the US Dodd-Frank Act. The Act aims to reduce risks,
increase investor protection and improve transparency when trading derivatives.
"Registering as a swap dealer is yet another step for us to continue enhancing
relationships with clients and counterparties. Dodd-Frank is about making
markets more transparent and secure through, for example, additional reporting
and clearing requirements. Becoming a registered swap dealer means we will
safeguard our role as the leading Nordic corporate bank for home-market clients
as well as for clients around the world trading Nordic derivative products and
currencies," says Joachim Alpen, Head of Markets at SEB.
A swap is a derivative contract, often used to manage for example interest-rate
or foreign-currency risk.
SEB already has the ability to deal in swap contracts in Europe under European
Market Infrastructure Regulation (EMIR). By becoming a registered swap dealer,
there are a number of unique and comprehensive rules in US regulation which SEB
has now also committed to complying with.
The Dodd-Frank Wall Street Reform and Consumer Protection Act was introduced in
response to the financial crisis and G20 commitments to reform financial
markets. Among many areas, the Act encompasses sections regulating all aspects
of trading in derivative instruments.
Read more on Dodd-Frank from the US Commodity Futures Trading Commission at
For further information, please contact Press contact
Joachim Alpen, Head of Markets Anna Helsén, Group Press Officer
+46-8-506 23 296 +46(0) 70 698 48 58
SEB is a leading Nordic financial services group. As a relationship bank, SEB in
Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The international
nature of SEB's business is reflected in its presence in some 20 countries
worldwide. On December 31, 2013, the Group's total assets amounted to SEK 2,485
billion while its assets under management totalled SEK 1,475 billion. The Group
has about 16,000 employees. Read more about SEB at www.sebgroup.com.
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