No demand for EU MTFs to seek US approval, says GFI

Banks have spent 'a lot of time and money' to avoid extra-territorial swaps rules

Matt Woodhams, GFI Group

There is “zero demand” for European trading platforms to apply for US regulatory approval under the terms of a transatlantic accord unveiled in February, according to executives at interdealer broker GFI Group. The comments are the latest to paint the accord as a flop.

The so-called qualifying multilateral trading facility (QMTF) regime is an attempt to paper over the cracks that have emerged since US over-the-counter derivatives reforms took effect. The same reforms are months or years away in