Too much power: Sefs warn on 'available to trade' rules

It is rare to hear regulated entities complain that a new rule gives them too much freedom, but since final rules for swap execution facilities (Sefs) were agreed on May 16, some of these venues – including Tradeweb – have been warning about the amount of latitude they have to decide which products fall into their market.

The Dodd-Frank Act states that an over-the-counter swap must be executed on a Sef or an exchange when it has been made available to trade (MAT) by one of the new platforms – ma