Key Takeaways
- According to the CFTC, 108 entities were registered swap dealers on January 15, 2026, belonging to 73 dealing groups.
- Goldman Sachs has the most registered swap dealer entities, 12, followed by Morgan Stanley with 9, according to the CFTC's list.
- Nine groups register more than one entity and account for 44 of the 108 registrations, 41%, according to CFTC data.
- 45 of the CFTC's swap dealers are also on the SEC's list of security-based swap dealers, and five are futures commission merchants, according to the two agencies' data.
Goldman Sachs registers 12 of the 108 swap dealers on the CFTC's list, more than any other dealing group, followed by Morgan Stanley with 9, according to the CFTC's list current as of January 15, 2026. The 108 registrations belong to 73 dealing groups, and the nine groups that register more than one entity account for 44 of them, 41%, according to the same CFTC data.
A swap dealer must register with the Commodity Futures Trading Commission, which has delegated the registration itself to the National Futures Association. The CFTC publishes its own list of registered swap dealers, which is what this page reads; it gives names only, so the page counts entities and groups, not trading volume.
Dealing groups with more than one registered swap dealer
Counted from the CFTC's list of January 15, 2026. The last column counts the group's entities that are also on the SEC's list of security-based swap dealers of September 10, 2026.
| Rank | Dealing group | Registered swap dealer entities | Of which also SEC security-based swap dealers | Source |
|---|---|---|---|---|
| 1 | Goldman Sachs | 12 | 5 | CFTC |
| 2 | Morgan Stanley | 9 | 4 | CFTC |
| 3 | Bank of America | 7 | 3 | CFTC |
| 4 | Citi | 5 | 3 | CFTC |
| 5 | J.P. Morgan | 3 | 2 | CFTC |
| 6 | Barclays | 2 | 1 | CFTC |
| 7 | HSBC | 2 | 2 | CFTC |
| 8 | MUFG | 2 | 1 | CFTC |
| 9 | Nomura | 2 | 2 | CFTC |
Every registered swap dealer
All 108 entities on the CFTC's list, by dealing group. "Also an SEC security-based swap dealer" is from the SEC's list of September 10, 2026; "Also a futures commission merchant" is from the CFTC's financial data for August 2026.
| Dealing group | Registered entities in the group | Swap dealer, as the CFTC lists it | Also an SEC security-based swap dealer | Also a futures commission merchant | Source |
|---|---|---|---|---|---|
| Goldman Sachs | 12 | Goldman Sachs & Co LLC | yes | yes | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Bank Europe SE | yes | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Bank USA | yes | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Financial Markets LP | yes | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Financial Markets Pty Ltd | no | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs International | yes | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Japan Co Ltd | no | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Mexico Casa de Bolsa SA de CV | no | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Mitsui Marine Derivative Products LP | no | no | CFTC |
| Goldman Sachs | 12 | Goldman Sachs Paris Inc et Cie | no | no | CFTC |
| Goldman Sachs | 12 | J Aron & Company LLC | no | no | CFTC |
| Goldman Sachs | 12 | J Aron & Company Singapore PTE | no | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley & Co International PLC | yes | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley & Co LLC | no | yes | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Bank International Limited | no | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Bank NA | yes | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Capital Group Inc | no | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Capital Group Singapore PTE | no | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Capital Services LLC | yes | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Europe SE | yes | no | CFTC |
| Morgan Stanley | 9 | Morgan Stanley Mexico Casa de Bolsa SA de CV | no | no | CFTC |
| Bank of America | 7 | Bank of America Europe DAC | no | no | CFTC |
| Bank of America | 7 | Bank of America NA | yes | no | CFTC |
| Bank of America | 7 | BofA Securities Europe SA | yes | no | CFTC |
| Bank of America | 7 | BofA Securities Japan Co Ltd | no | no | CFTC |
| Bank of America | 7 | Merrill Lynch Capital Services Inc | no | no | CFTC |
| Bank of America | 7 | Merrill Lynch Commodities Inc | no | no | CFTC |
| Bank of America | 7 | Merrill Lynch International | yes | no | CFTC |
| Citi | 5 | Citibank N.A. | yes | no | CFTC |
| Citi | 5 | Citigroup Energy Inc | no | no | CFTC |
| Citi | 5 | Citigroup Global Markets Europe AG | yes | no | CFTC |
| Citi | 5 | Citigroup Global Markets Inc | no | yes | CFTC |
| Citi | 5 | Citigroup Global Markets Limited | yes | no | CFTC |
| J.P. Morgan | 3 | JP Morgan Securities LLC | yes | yes | CFTC |
| J.P. Morgan | 3 | JP Morgan Securities PLC | no | no | CFTC |
| J.P. Morgan | 3 | Jpmorgan Chase Bank National Association | yes | no | CFTC |
| Barclays | 2 | Barclays Bank Ireland PLC | no | no | CFTC |
| Barclays | 2 | Barclays Bank PLC | yes | no | CFTC |
| HSBC | 2 | HSBC Bank PLC | yes | no | CFTC |
| HSBC | 2 | HSBC Bank USA NA | yes | no | CFTC |
| MUFG | 2 | MUFG Bank Ltd | no | no | CFTC |
| MUFG | 2 | MUFG Securities Emea PLC | yes | no | CFTC |
| Nomura | 2 | Nomura Global Financial Products Inc | yes | no | CFTC |
| Nomura | 2 | Nomura International PLC | yes | no | CFTC |
| Australia and New Zealand Banking Group Ltd | 1 | Australia and New Zealand Banking Group Ltd | no | no | CFTC |
| Banco Bilbao Vizcaya Argentaria SA | 1 | Banco Bilbao Vizcaya Argentaria SA | yes | no | CFTC |
| Banco Santander SA | 1 | Banco Santander SA | yes | no | CFTC |
| Bank of Montreal | 1 | Bank of Montreal | yes | no | CFTC |
| Bank of New York Mellon | 1 | Bank of New York Mellon | yes | no | CFTC |
| Bank of Nova Scotia | 1 | Bank of Nova Scotia | yes | no | CFTC |
| BNP Paribas SA | 1 | BNP Paribas SA | yes | no | CFTC |
| BP Energy Company | 1 | BP Energy Company | no | no | CFTC |
| Canadian Imperial Bank of Commerce | 1 | Canadian Imperial Bank of Commerce | yes | no | CFTC |
| Capital One National Association | 1 | Capital One National Association | no | no | CFTC |
| Cargill Incorporated | 1 | Cargill Incorporated | no | no | CFTC |
| Casa de Bolsa Finamex SAB de CV | 1 | Casa de Bolsa Finamex SAB de CV | no | no | CFTC |
| Citadel Securities Swap Dealer LLC | 1 | Citadel Securities Swap Dealer LLC | no | no | CFTC |
| Citizens Bank National Association | 1 | Citizens Bank National Association | no | no | CFTC |
| Commerzbank AG | 1 | Commerzbank AG | no | no | CFTC |
| Commonwealth Bank of Australia | 1 | Commonwealth Bank of Australia | no | no | CFTC |
| Cooperatieve Rabobank UA | 1 | Cooperatieve Rabobank UA | no | no | CFTC |
| Credit Agricole Corporate and Investment Bank | 1 | Credit Agricole Corporate and Investment Bank | no | no | CFTC |
| Danske Bank AS | 1 | Danske Bank AS | no | no | CFTC |
| Darby Swap Trading LLC | 1 | Darby Swap Trading LLC | no | no | CFTC |
| Deutsche Bank AG | 1 | Deutsche Bank AG | yes | no | CFTC |
| Falconx Bravo Inc | 1 | Falconx Bravo Inc | no | no | CFTC |
| Fifth Third Bank National Association | 1 | Fifth Third Bank National Association | no | no | CFTC |
| Galaxy Derivatives LLC | 1 | Galaxy Derivatives LLC | no | no | CFTC |
| GFI Securities Limited | 1 | GFI Securities Limited | no | no | CFTC |
| ICBC Standard Bank PLC | 1 | ICBC Standard Bank PLC | no | no | CFTC |
| ING Capital Markets LLC | 1 | ING Capital Markets LLC | yes | no | CFTC |
| Intesa Sanpaolo Spa | 1 | Intesa Sanpaolo Spa | no | no | CFTC |
| ITAU BBA International PLC | 1 | ITAU BBA International PLC | no | no | CFTC |
| JB Drax Honore UK Ltd | 1 | JB Drax Honore UK Ltd | no | no | CFTC |
| Jefferies Financial Services, Inc. | 1 | Jefferies Financial Services, Inc. | yes | no | CFTC |
| Keybank National Association | 1 | Keybank National Association | no | no | CFTC |
| Lloyds Bank Corporate Markets PLC | 1 | Lloyds Bank Corporate Markets PLC | no | no | CFTC |
| Macquarie Bank Limited | 1 | Macquarie Bank Limited | yes | no | CFTC |
| Makor Securities London Ltd | 1 | Makor Securities London Ltd | no | no | CFTC |
| Marex Derivative Products Inc | 1 | Marex Derivative Products Inc | no | no | CFTC |
| Mizuho Capital Markets LLC | 1 | Mizuho Capital Markets LLC | yes | no | CFTC |
| Morgan Stanley MUFG Securities | 1 | Morgan Stanley MUFG Securities Co Ltd | no | no | CFTC |
| National Australia Bank Limited | 1 | National Australia Bank Limited | no | no | CFTC |
| National Bank of Canada | 1 | National Bank of Canada | yes | no | CFTC |
| Natixis | 1 | Natixis | yes | no | CFTC |
| Natwest Markets PLC | 1 | Natwest Markets PLC | no | no | CFTC |
| Nordea Bank ABP | 1 | Nordea Bank ABP | no | no | CFTC |
| Northern Trust Company | 1 | Northern Trust Company | no | no | CFTC |
| PNC Bank National Association | 1 | PNC Bank National Association | no | no | CFTC |
| Royal Bank of Canada | 1 | Royal Bank of Canada | yes | no | CFTC |
| Shell Trading Risk Management LLC | 1 | Shell Trading Risk Management LLC | no | no | CFTC |
| Skandinaviska Enskilda Banken AB Publ | 1 | Skandinaviska Enskilda Banken AB Publ | yes | no | CFTC |
| SMBC Capital Markets Inc | 1 | SMBC Capital Markets Inc | no | no | CFTC |
| Societe Generale S.A. | 1 | Societe Generale S.A. | yes | no | CFTC |
| Standard Chartered Bank | 1 | Standard Chartered Bank | yes | no | CFTC |
| State Street Bank and Trust Company | 1 | State Street Bank and Trust Company | no | no | CFTC |
| Stonex Markets LLC | 1 | Stonex Markets LLC | no | no | CFTC |
| TFS Derivatives Ltd | 1 | TFS Derivatives Ltd | no | no | CFTC |
| Toronto Dominion Bank | 1 | Toronto Dominion Bank | yes | no | CFTC |
| TP ICAP Broking Limited | 1 | TP ICAP Broking Limited | no | no | CFTC |
| Truist Bank | 1 | Truist Bank | yes | no | CFTC |
| UBS AG | 1 | UBS AG | yes | no | CFTC |
| Unicredit Bank GMBH | 1 | Unicredit Bank GMBH | no | no | CFTC |
| US Bank National Association | 1 | US Bank National Association | no | no | CFTC |
| Wedbush Securities Inc | 1 | Wedbush Securities Inc | no | yes | CFTC |
| Wells Fargo Bank National Association | 1 | Wells Fargo Bank National Association | yes | no | CFTC |
| Westpac Banking Corporation | 1 | Westpac Banking Corporation | no | no | CFTC |
| XP Investments US LLC | 1 | XP Investments US LLC | no | no | CFTC |
Download this table (CSV), free. The full dataset, with each entity's SEC name, CIK, registration date and the rule that matched the two lists, is one email away.
Swaps and security-based swaps are registered separately
- The CFTC regulates swaps; the SEC regulates security-based swaps. A dealer in both registers with both. According to the two agencies' lists, 45 of the 108 CFTC swap dealers are also SEC security-based swap dealers, from 31 of the 73 dealing groups.
- The SEC's list has dealers the CFTC's does not. Of the 54 security-based swap dealers on the SEC's list that have not withdrawn, nine have no match on the CFTC's list, according to the two agencies' data: CF Secured LLC; Capitolis Liquid Global Markets LLC; Clear Street Derivatives LLC; Clear Street LLC; GIFMS Capital Company LLC; Hidden Road Partners CIV US LLC; Jane Street Derivatives Dealer LLC; Marex Securities Products Inc.; Nearwater Capital Markets Ltd.
- Few swap dealers are also futures brokers. In the CFTC's monthly financial data for August 2026, five futures commission merchants are marked as swap dealers too: Citigroup Global Markets Inc, Goldman Sachs & Co LLC, JP Morgan Securities LLC, Morgan Stanley & Co LLC, Wedbush Securities Inc. Each is on the swap dealer list.
What this means for technology buyers
Each registered entity holds its own registration, so a group with several meets its obligations entity by entity, and 45 of the entities on the CFTC's list answer to the SEC as well. These guides cover the systems behind them:
- Counterparty credit risk platforms: exposure to each dealer, seen from the buy side.
- Market risk management systems: the dealer's own risk and capital numbers.
- Regulatory reporting platforms for investment banks: the filings each registered entity makes.
- Clearing and settlement systems: the post-trade side of a markets business.
Mapping the business first? The Investment Banking Value Streams show how a markets business delivers to its clients, from trade to settlement.
More from Finantrix Atlas
- Largest futures commission merchants by customer funds
- Top broker-dealer firms in the US by total assets
- Largest US bank holding companies
How this list was built
The universe is the CFTC's list of registered swap dealers on its Swap Dealer page, current as of January 15, 2026. Entities are grouped by dealing group with a written list of name patterns; a name two patterns claim stops the build, and an entity no pattern claims is its own group.
The SEC's Division of Trading and Markets publishes a list of security-based swap dealers compiled from registration filings on EDGAR, last updated September 10, 2026. Entities that have withdrawn or deregistered are left out. Names on the two lists are compared after punctuation, spacing and spelling of the legal form are made uniform. The legal form must match, because it is what tells two entities of one group apart; it is set aside only when a name has no exact match and exactly one name on each list shares the rest. Nothing is matched by similarity.
The CFTC's monthly financial data for futures commission merchants says how each firm is registered. Every firm it marks as a swap dealer must appear on the swap dealer list, which holds the CFTC's two publications to each other.
Limits
- The list's date. The CFTC's list is current as of January 15, 2026. A dealer registered or withdrawn since then is not reflected, and the National Futures Association's registry, which the page does not read, can be more recent.
- Entities, not activity. The list has no figures, so the count of entities says how a group organizes its dealing, not how much it deals. A group with one large entity can deal more than one with many.
- Provisional or full registration is not shown. The CFTC's list does not say which registrations are provisional.
- Grouping is a judgment. Each entity's group is in the table and the free CSV, so the call can be checked.
- Name matching can miss a renamed entity. An entity filed under a different name with the SEC shows as not matched.
Cite this
Free to quote, cite and republish, including the chart, with credit to Finantrix Atlas and a link to this page.
Goldman Sachs registers 12 of the 108 swap dealers on the CFTC's list, more than any other dealing group, according to a Finantrix Atlas analysis of CFTC data current as of January 15, 2026.
45 of the 108 CFTC-registered swap dealers are also SEC security-based swap dealers, according to a Finantrix Atlas analysis of CFTC and SEC lists.
Suggested citation: Finantrix Atlas, "Notable Registered Swap Dealers, by Dealing Group," CFTC list current as of January 15, 2026, with the SEC list of security-based swap dealers of September 10, 2026. https://www.finantrix.com/articles/swap-dealers
Embed the chart:
<a href="https://www.finantrix.com/articles/swap-dealers"><img src="https://www.finantrix.com/atlas/swap-dealers.png" alt="Dealing groups by registered swap dealer entities, from CFTC data, by Finantrix Atlas"></a>
<p>Chart: <a href="https://www.finantrix.com/articles/swap-dealers">Finantrix Atlas</a>, from CFTC and SEC data.</p>
Frequently asked questions
Q: How many swap dealers are registered with the CFTC? A: 108, on the CFTC's list current as of January 15, 2026, belonging to 73 dealing groups.
Q: Which firm has the most registered swap dealers? A: Goldman Sachs, with 12 registered entities on the CFTC's list, followed by Morgan Stanley with 9 and Bank of America with 7.
Q: What is the difference between a swap dealer and a security-based swap dealer? A: A swap dealer registers with the CFTC; a security-based swap dealer, a dealer in security-based swaps, registers with the SEC. According to the two agencies' lists, 45 of the CFTC's 108 swap dealers are registered with the SEC as well.
Q: Who keeps the swap dealer registry? A: The National Futures Association, to which the CFTC has delegated swap dealer registration. The CFTC also publishes a list of registered swap dealers on its own website.
Download the data
The 108 rows on this page (CSV), free. The full dataset has all 108 rows, as of January 15, 2026; we email you a link.
Frequently Asked Questions
How many swap dealers are registered with the CFTC?
108, on the CFTC's list current as of January 15, 2026, belonging to 73 dealing groups.
Which firm has the most registered swap dealers?
Goldman Sachs, with 12 registered entities on the CFTC's list, followed by Morgan Stanley with 9 and Bank of America with 7.
What is the difference between a swap dealer and a security-based swap dealer?
A swap dealer registers with the CFTC; a security-based swap dealer, a dealer in security-based swaps, registers with the SEC. According to the two agencies' lists, 45 of the CFTC's 108 swap dealers are registered with the SEC as well.
Who keeps the swap dealer registry?
The National Futures Association, to which the CFTC has delegated swap dealer registration. The CFTC also publishes a list of registered swap dealers on its own website.