SEF Volumes for Week 6 | ClarusFT

The SEF Volume figures for Week 6 are now in. In this weeks piece, we also look at whether the Nov 1 expiration of the CFTC No-Action Relief for Clients to have completed paperwork, has resulted in a drop in SEF Volumes. ClarusFT: Analysis of SEF Activity for Week 6.

Get With the Programme

Electronic trading of swaps will soon be mandatory and industry participants need to get ready. Regulation Matters Fidessa blog: Get With the Programme.

SEFs: London’s Short-term Regulatory Advantage?

According to this risk article (subs. required), with the UK’s exemption agreed with CFTC to allow CFTC registered SEFs to execute trades between non-US persons in the UK, London would have appeared to take a temporary advantage over some other non-US regimes in the eTrading race.

• The OTC Space:  SEFs: London’s short-term regulatory advantage?
• Risk: Sefs Face Major Delays in Operating Outside the US.

CFTC Stamps Out Footnote 513

The CFTC issued advice yesterday, decisively closing a loophole that allowed banks to shelter trades from the SEF execution mandate. Regulatory Reform blog: CFTC Stamps Out Footnote 513.

SEF Rules Slow Transition to FX Multi-Dealer Platforms

The recent movement of the foreign exchange trading market towards multi-dealer platforms is being stunted by the implementation of swap execution facility rules by the CFTC, according to a report released by Greenwich Associates today. IFR Asia: SEF Rules Slow Transition to FX Multi-Dealer Platforms.

Greenwich Research: Derivatives Rules to Disrupt Move of FX to Multi-Dealer Platforms

We just published some new research that looks at buy side use of single-dealer platforms and multi-dealer platforms in the FX market. Kevin On The Street: Greenwich Research: Derivatives Rules to Disrupt Move of FX to Multi-Dealer Platforms.