Talking to the Swap Execution Facilities
I’ve spent the better part of the last year studying what will become the swap execution facility (SEF) market, how it will be regulated, its players, its impact on derivatives trading. More recently...
View ArticleSwap Execution Facility Trading Volumes: Here are the Real Numbers
There are some really good parts of the SEF rule, and this in my view is one of the best: Core Principle 9 requires a SEF to make public timely information on price, trading volume, and other trading...
View ArticleThe CFTC Killed SEF Trading (for now)
Last week was a busy week in SEF land. November 1 brought in to play a host of new rules, the MAT wars heat up and the Commission made the void rule even more confusing than it was before. So where has...
View ArticleMandatory SEF Trading Does Not Equal Mandatory Electronic Trading
Forgive me if I’m stating the obvious for some of you, but I’ve had this conversation more than once and felt some clarity was in order here. As we work through the made available to trade (MAT)...
View ArticleSome SEF Trading Certainty – Finally!
Who would have guessed that Black Friday would have turned out to be a big day for SEF trading. Both Javelin and Tradeweb resubmit their MAT filings, both scaling back the number of products made...
View ArticleA Conversation With Lee Olesky, CEO of Tradeweb
As a part of Greenwich’s Behind the Market Structure webinar series, I had the pleasure of speaking with Tradeweb CEO Lee Olesky. We talked about the 20…
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