Registered as an Exempt Board of Trade (EBOT) for swaps and other OTC cleared derivatives, TeraExchange intends to apply to become a Swaps Execution Facility (SEF) once SEC and CFTC rules are finalized in early 2012.

FORBES: Innovation Coming to OTC Cleared Derivatives

For example, since September 2005, the Federal Reserve Bank of New York has been leading a joint public-private initiative to improve arrangements for clearing and settling trades in credit default swaps and other OTC derivatives.

FORBES: Reducing Systemic Risk

All cleared OTC derivatives will be available including interest rate swaps, credit default swaps, energy swaps, non-deliverable forwards and equity swaps.

FORBES: Innovation Coming to OTC Cleared Derivatives