The use of forward-starting interest rate swaps has surged as US derivatives users attempt to avoid executing trades on swap execution facilities (Sefs), a Commodity Futures Trading Commission (CFTC) committee has heard.
Speaking at a meeting of the CFTC's Technology Advisory Committee yesterday, Tod Skarecky, senior vice-president for the Americas at Clarus Financial Technology, said only a little more than half of US dollar fixed-to-floating interest rate swaps are traded on Sefs. The
- Asia moves: BlackRock picks new Asia head, Credit Suisse boosts regional solutions, and more
- Bank risk manager of the year: UBS
- We need a different approach to supervisory stress-testing
- People moves: Asia hires at Credit Suisse, new UBS data role, NatWest takes UBS's Duclos, and more
- Risk solutions house of the year: HSBC