{{Use American English|date=February 2026}} {{Use mdy dates|date=February 2026}} {{Infobox company | name = trueEX Group LLC | logo = | logo_size = 300px | logo_alt = trueEX logo | type = Private<br /> Limited Liability Company | foundation = October 21, 2010<br /> Delaware | location = New York, NY, United States | key_people = Sunil Hirani, Founder and CEO James R. Miller, Co-Founder | industry = Designated Contract Market (DCM) | products = Electronic exchange for interest rate swaps | homepage = http://www.trueex.com/ }}
'''trueEX Group LLC''', known as '''trueEX''', is a New York-based financial technology company established as an electronic exchange platform for global interest rate swaps (IRS).
It was founded on October 21, 2010, by Sunil G. Hirani, a co-founder of Creditex Group Inc,<ref>{{cite web |url=https://www.theice.com/creditex.jhtml |title=ICE OTC: Credit Derivatives |publisher=Theice.com |accessdate=2012-10-16 |url-status=dead |archiveurl=https://web.archive.org/web/20121015220629/https://www.theice.com/creditex.jhtml |archivedate=2012-10-15 }}</ref> and Jim Miller. trueEX is organized as a Delaware limited liability company and is a wholly owned subsidiary of trueEX Group. Its headquarters are in the Flatiron District of New York City.
On September 28, 2012,<ref>{{cite web|url=http://www.cftc.gov/PressRoom/PressReleases/pr6371-12 |title=CFTC Designates trueEX LLC as a Contract Market |publisher=Cftc.gov |date= |accessdate=2012-10-16}}</ref> trueEX became the first electronic swaps exchange to receive approval by the U.S. Commodity Futures Trading Commission (CFTC)<ref>{{cite web|url=http://www.cftc.gov/About/index.htm |title=About the CFTC - CFTC |publisher=Cftc.gov |date=2009-05-26 |accessdate=2012-10-16}}</ref> as a Dodd-Frank compliant Designated Contract Market (DCM).<ref>{{cite web|url=http://www.cftc.gov/LawRegulation/FederalRegister/FinalRules/2012-12746 |title=77 FR 36611 |publisher=Cftc.gov |date= |accessdate=2012-10-16}}</ref> trueEX was created in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which imposed new regulations and standards on financial markets following the 2008 financial crisis. The company intended to trade interest rate swaps and other liquid derivatives, and is the first to provide back loading, termination, re-balancing and compaction services for the interest rate swaps market.
In the first year of operation, trueEX onboarded 11 clearing houses, 14 dealers, and 63 buy-side firms. trueEX has executed over $2.7 trillion in PTC, RFQ, Compressions, and Post Trade Services for the buy-side and dealer community.
trueEX ended trading operations on July 19, 2019.<ref>{{Cite web |last=Leising |first=Matthew |date=2019-07-09 |title=Rate-Swap Trading Firm TrueEx to End Trading Operations July 19 |url=https://news.bloomberglaw.com/securities-law/rate-swap-trading-firm-trueex-to-end-trading-operations-july-19 |url-status=live |access-date=2025-11-10 |website=Bloomberg Law}}</ref>
==References== {{Reflist}} * [https://www.bloomberg.com/news/articles/2018-03-12/swaps-pioneer-s-crypto-venture-takes-two-big-steps-forward Swaps Pioneer's Crypto Venture Takes Two Big Steps Forward]. March 12, 2018. * [https://www.prnewswire.com/news-releases/trueex-unit-to-launch-regulated-marketplace-for-digital-assets-300612041.html trueEX Unit to Launch Regulated Marketplace for Digital Assets]. March 12, 2018.
Category:Financial services companies based in New York City