Dealers are becoming increasingly nervous that swap execution facilities (Sefs) - the trading platforms which serve as gateways to derivatives clearing in the Dodd-Frank Act - will undermine their client relationships, thanks to a Commodity Futures Trading Commission (CFTC) proposal that all quote requests go to at least five counterparties.
Because clearing-eligible trades will need to find their way to a central counterparty via either an exchange or a Sef, the CFTC proposal implies dealers wi
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quantile, TriOptima face off in cleared swaps compression battle
- Quants stymied by lack of alternative risk premia flows data