Javelin Capital Markets: The gate-crasher


A spectre was often invoked in the fierce debate that followed the publication of final rules for swap execution facilities (Sefs) in June – a bogey-Sef, a rogue platform, a disruptive force that would list an array of unsuitable products for trading, potentially forcing other Sefs to follow suit (Risk July 2013, pages 21–24).

The inspiration behind these campfire tales may have been Javelin Capital Markets and its chief executive, Jamie Cawley, who has proven no respecter of incumbency since hi