Global inconsistency remains a challenge for would-be Sefs


The possibility of inconsistent criteria and definitions for US swap execution facilities (Sefs) and their European counterparts, coupled with the possibility that participants in one jurisdiction could be caught by the rules of another – a concept known as extraterritoriality – remain the biggest challenges for trading platform operators gearing up for Sef registration, according to participants in a live webinar hosted by's sister publication FX Week.

"I think extraterritoriality is

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