Duffie: SEC plan heralds all-to-all Treasuries trading

Former Fed adviser welcomes long-advocated Treasuries clearing mandate

Securities and Exchange Commission
SEC proposal could represent a step away from the dealer intermediation mode
Photo: Andriy Blokhin/Alamy Stock Photo

A Securities and Exchange Commission (SEC) proposal mandating the central clearing of a large portion of US Treasury transactions could herald a shift to all-to-all trading within five years, according to Darrell Duffie, a Stanford professor who has advised the Chicago Federal Reserve on central clearing.

Duffie cautiously anticipates that “in three to five years, if everything goes well, either existing platforms or new platform entrants could begin to offer alternative trade services”.


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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

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