Sefs: Ready or not, here they come

Ready or not, here they come

lee-olesky-2010
Lee Olesky, Tradeweb

The start of the new regime for swap execution facilities (Sefs) was just days away as Risk went to press. But the two months leading up to it saw barely controlled panic, as electronic execution venues that didn’t think they would need to register as Sefs found out they would, clients and futures commission merchants (FCMs) were given reams of documentation they would need to read through and sign in a matter of weeks, and some overseas venues quietly asked US customers not to participate on th

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