Risk 25 firms of the future: i-Swap

Asset-class specialists will struggle

Kieron Nolan, i-Swap

The Broadway musical West Side Story describes a rivalry between two teenage gangs, the Jets and the Sharks. Initially, it seems there is no chance of reconciliation – the two are implacably opposed. Later, after lots of dancing, singing and two murders, the gangs discover their differences are not so great after all.

Something similar is happening in the market for swap execution facilities (Sefs), the new platforms introduced by the Dodd-Frank Act for the trading of standardised over-the-count