why were swap execution facilities created 
swap execution facilities were created under the 2010 dodd frank act to better regulate and increase transparency for swaps deals both before and after the trade who must register with an sef according to the cftc any person who offers a trading system or platform in which more than one market participant has the ability to execute or trade swaps with more than one other market participant on the system or platform must apply to the commission to register as a sef 3