It’s hard not to feel sorry for swap execution facilities (Sefs). Since the Dodd-Frank Act was published in July 2010, making Sefs one of only two places that standardised over-the-counter derivatives could be traded – the other being exchanges – these new platforms have been waiting for the party to start. They may find they have been queuing for their own funeral.
On March 11, Bloomberg, one of the would-be Sefs, threatened to take legal action unless the US Commodity Futures Trading Commissio
The week on Risk.net, July 7-13, 2018Receive this by email