Sef reforms could distort new, sounder benchmark rates

Tradition’s Fitzpatrick warns that more ways of trading swaps could dent progress made on fixings

Electronic price display board
Some worry Sef reforms could be a backward step for electronic markets

The head of Tradition’s swap execution facility (Sef) has warned regulators that any new proposals on the way interest rate derivatives trade might slant the setting of important financial benchmarks.

The Commodity Futures Trading Commission (CFTC) is set to propose new rules on swaps trading that would follow more closely the “any means of interstate commerce” set forth in the Dodd-Frank Act – essentially throwing them open even to voice-brokered or auction-based trades.

At present, Sef

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here