AEGIS Markets (U.S.) LLC
AEGIS Markets is a CFTC-approved Swap Execution Facility (SEF) for commodities, operated by AEGIS Hedging Solutions.
Last updated September 28, 2026
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Overview
AEGIS Markets (U.S.) LLC is a Swap Execution Facility (SEF) approved by the U.S. Commodity Futures Trading Commission (CFTC). It is a subsidiary of AEGIS Hedging Solutions and operates an electronic marketplace for commodities and other instruments, offering a venue for trading in uncleared bilateral swaps. The platform brings together corporates, dealers, advisors, and brokers to conduct transparent price discovery and efficient trade execution. The concept for AEGIS Markets originated in October 2019 as an idea to apply technology to hedging markets. After an initial prototype in January 2020 and a CFTC staff advisory in September 2021, AEGIS Markets was approved by the CFTC in July 2022. The first participants joined in August 2022, and the first live trades were executed in September 2022. Since then, the platform has grown rapidly, reaching 35 dealers by June 2025 and surpassing 2,000,000 lots transacted by November 2025. AEGIS Markets serves as a hedging marketplace where buyers and sellers come together for the same product with the same structure, volume, and tenor, at the same time, resulting in transparent pricing and efficient execution. The platform offers features such as transparent pricing, efficient execution, trade analytics, automatic trade booking, robust compliance, and API integration. It is trusted by banks, approved by regulators, and runs on modern, easy-to-use technology. The company is headquartered in The Woodlands, Texas, and operates primarily in the United States. It has been recognized as OTC Platform of the Year in May 2024 and again in May 2025. In February 2025, it launched a Dealer Dashboard, and in November 2025, it launched Insights Pro. As of January 2026, the platform reported record monthly volume, trade count, and participant count.
History
AEGIS Markets (U.S.) LLC is a Swap Execution Facility (SEF) approved by the U.S. Commodity Futures Trading Commission (CFTC). It is a subsidiary of AEGIS Hedging Solutions, a company that provides hedging advisory services to hundreds of leading companies. The idea for AEGIS Markets originated in October 2019, when the team decided to apply technology to make hedging markets better. An initial prototype was created in January 2020. In February 2020, the CFTC stated that SEF registration was required, prompting AEGIS to submit its SEF application in February 2021. In September 2021, the CFTC published Staff Advisory 21-19, which provided further guidance. AEGIS Markets was approved by the CFTC in July 2022. The first participants joined in August 2022, and the first live trades were executed in September 2022. By December 2022, the 10th dealer had joined. In January 2023, volume increased in the fourth quarter of 2022, and the 15th dealer joined. In April 2023, record volume was reported for the first quarter of 2023. In May 2023, the 20th dealer joined. In July 2023, trading activity accelerated in the second quarter of 2023. In September 2023, a new capability allowed clients to trade directly on AEGIS Markets. In October 2023, record trading activity was reported for the third quarter of 2023. In November 2023, the 25th dealer joined. In December 2023, the platform passed 500,000 total lots traded. In April 2024, record trading activity was reported for the first quarter of 2024. In May 2024, AEGIS Markets was named OTC Platform of the Year. In June 2024, the 30th dealer joined. In October 2024, the platform reached 1,000,000 lots transacted, equivalent to 1 billion barrels of crude oil. In February 2025, the Dealer Dashboard was launched. In March 2025, record trading activity was reported for the first quarter of 2025. In May 2025, AEGIS Markets was named OTC Platform of the Year again. In June 2025, the 35th dealer joined and record trading activity was reported for the second quarter of 2025. In November 2025, the platform reached 2,000,000 lots transacted, equivalent to 2 billion barrels of crude oil, and launched Insights Pro. In December 2025, record natural gas trading activity was reported for the fourth quarter of 2025. In January 2026, record monthly volume, record monthly trade count, and record monthly participant count were reported. In February 2026, the company continued to build on its momentum as a leading hedging marketplace.
Original idea: apply technology to make hedging markets better
Initial prototype created
CFTC stated SEF registration is required
SEF application submitted
CFTC published Staff Advisory 21-19
AEGIS Markets approved by the CFTC
First participants join AEGIS Markets
First live trades executed
10th dealer joins
Volume increases in 4Q22; 15th dealer joins
Products and positioning
A transparent, efficient, and compliant hedging marketplace for commodities, trusted by corporates, dealers, advisors, and brokers.
AEGIS Markets SEF platform
An electronic marketplace for trading uncleared bilateral swaps and other commodity instruments.
Dealer Dashboard
A dashboard for dealers launched in February 2025.
Insights Pro
An advanced analytics product launched in November 2025.
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