Javelin Capital Markets: The gate-crasher
The countdown to mandatory trading on swap execution facilities started last month when Javelin Capital Markets became the first Sef to file a product list with US regulators. Its chief executive, Jamie Cawley, tells Peter Madigan why market participants have nothing to fear
A spectre was often invoked in the fierce debate that followed the publication of final rules for swap execution facilities (Sefs) in June – a bogey-Sef, a rogue platform, a disruptive force that would list an array of unsuitable products for trading, potentially forcing other Sefs to follow suit (Risk July 2013, pages 21–24).
The inspiration behind these campfire tales may have been Javelin Capital Markets and its chief executive, Jamie Cawley, who has proven no respecter of incumbency since
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