Trading

Repurposing the Business

With regulation as a driving force, the financial services industry–and most critically the OTC derivatives landscape–is facing major change. Finextra: Repurposing the Business.

Could SEF Aggregation be the Next Big Thing in Swaps?

With SEF trading becoming mandatory on Feb. 15 for certain interest rate swaps and continues to evolve, industry watchers are waiting to see if SEF aggregation will emerge to help the buy side connect with multiple SEFs. Wall Street & Technology: Could SEF Aggregation be the Next Big Thing in Swaps?

SEF Day 1: A Big Deal but Not a Big Bang

Tuesday February 18th is certainly a big deal.  Requiring swaps to trade on registered platforms was one of the primary tenets of derivatives reform since shortly after the Lehman bankruptcy, and finally the day has arrived. Kevin On The Street: SEF Day 1: A Big Deal but Not a Big Bang.

Sefs Not Expecting a Big Bang from Mat Spark

As the Sef trading mandate approaches, platforms are primed for a jump in volumes – but with many clients currently avoiding Sefs, it may be a small bang, rather than a big one. Risk: Sefs Not Expecting a Big Bang from Mat Spark.

A Handy Summary of SEF MAT Scope / Schedule

Since my post on the scope of the SEF MAT go live on February 18th – here, I've been meaning to clarify the further scope / schedule as other SEF MAT submissions go through. The OTC Space: A Handy Summary of SEF MAT Scope / Schedule.

April Launch for CME's Euro Swap Future

CME Group will launch its euro-denominated deliverable interest rate swap futures on April 14, getting in ahead of a number of rivals that plan to launch completing products in the coming months. IFR: April Launch for CME's Euro Swap Future.

Clarus Financial Technology announces SEFView

Clarus Financial Technology today announces the release of SEFView, its new service for tracking Swap Execution Facility (SEF) volumes. The OTC Space: Clarus Financial Technology announces SEFView.

CFTC Tells Sefs to Collect Paper Isda Master Agreements

Platforms will need to obtain paper copies of users' contracts in order to confirm non-cleared trades. 

• Risk: CFTC Tells Sefs to Collect Paper Isda Master Agreements
• Regulatory Reform: SEFs and Footnote 915- Does the CFTC Hate Trees?

Tradition and Tullett Prebon Draw Fire in Sef Volumes Flap

Market is split on how to report volumes for multi-legged trades. Risk: Tradition and Tullett Prebon Draw Fire in Sef Volumes Flap

Bloomberg Begins Sponsored Access for Sefs

As the vast US derivatives industry prepares for the mandated trading of swaps on regulated platforms, new approaches that follow a pattern seen in equities and futures transactions are set to become a more frequent part of the fixed income market. FT: Bloomberg Begins Sponsored Access for Sefs.

Tradeweb Completes First Swap Trade By An FCM On Behalf Of A Client

TW SEF Introduces Sponsored Access to Derivatives Liquidity. PR Newswire: Tradeweb Completes First Swap Trade By An FCM On Behalf Of A Client.

SEF and Agency Make a Perfect MATch

From next Tuesday, February 18th, US market participants will be required to trade fixed-floating interest rate swaps denominated in dollars or euros for standard benchmark tenors on a SEF. Regulation Matters: SEF and Agency Make a Perfect MATch.

U.S. Banks OK to Trade on European Derivatives Platforms

The U.S. derivatives regulator said on Wednesday that Wall Street banks can trade on European platforms that are not registered with the U.S., a decision expected to mainly affect the London market. Reuters: U.S. Banks OK to Trade on European Derivatives Platforms.

Deutsche Boerse Acquires Stake in Bond Trading Platform Bondcube

Deutsche Boerse acquired a stake in a startup bond-trading platform that is taking a non-traditional approach to liquidity. The platform, Bondcube, has designed trading protocols intended to encourage buy side firms to be liquidity providers. FierceFinanceIT: Deutsche Boerse Acquires Stake in Bond Trading Platform Bondcube.

What’s the Best Way to Regulate HFT?

New regulations could present a great opportunity for the entire industry to put the proper safeguards in place to ensure that our markets are protected against manipulation. If regulators continue to use regulation as a way to lynch high-frequency trading, however, the goal to protect investors and increase the safety of the markets may be severely missed. Tabb Forum: What’s the Best Way to Regulate HFT?

A Bright Future for Swaps

While no one expects swaps futures to take over the OTC swaps market, a movement of 5 percent of the massive OTC swaps volumes into swaps futures would be a huge win for futures markets. Traders Magazine: A Bright Future for Swaps.