Dodd-Frank sees processing firm as 'swap execution facility'

jeff-gooch-2
Jeff Gooch, Markit

London- and New York-based post-trade processing platform MarkitServ is set to register as a swap execution facility (SEF) under US financial reform legislation, even though it has no plans to get involved in trade execution.

The development is the latest example of how ambiguities in the hastily drafted Dodd-Frank Wall Street Reform and Consumer Protection Act are having perverse consequences.

“We’re in a strange position. We have to register as an SEF but we don’t fit the definition of an SEF

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: