Asia dealers determined to avoid Sefs – for now

Firms look to alternative sources of liquidity

risk-avoid

Swap execution facilities (Sefs), the new US regulated platform for trading swaps, have only been up and running for seven months – and the initial reaction from Asian market players was to avoid these platforms at all costs. But some are predicting that, as more and more trades are forced on to the new platform, the pool of available liquidity could deepen, which might make trading on Sefs a more attractive proposition for those outside the US that do not currently have to trade on the