Swap execution facilities (SEFs)
FIX Protocol Offers Connectivity Solution for Some, But Not All SEFs
The open Financial Information Exchange Protocol (FIX) will allow a relatively painless connectivity method for order book Swap Execution Facilities (SEFs), but not those that operate on a request-for-quote (RFQ) basis, says the latest research from…
Major Banks Complete Swap Trading Standard
The Fixed Income Connectivity Working Group (FICWG) has agreed on a set of standards for the way in which participants in swap trades will interact with execution venues, ahead of regulatory reform.
CFTC Split Over Inter-Affiliate Clearing Exemptions
Regulators support proposal in principle, but divided over variation margin payments.
SEF Survival Depends on Differentiation
GreySpark research outlines the current picture of the swap execution facility landscape.
GreySpark: SEFs to Encourage Order Book Trading, More Data, New Data Products
Emergence of SEFs will lead to data volumes and new products and services similar to equities and options markets, consultancy says.
European Council Adopts Derivatives Rules
CCP clearing and trade repository reporting ratified by supranational body.
CFTC Amends Effective Date for Swaps Regulation
Regulator shifts exemptions and enactment from original July implementation.
James Rundle: Whale for Breakfast
JPMorgan’s losses from the ‘Whalegate’ fiasco have reignited debate on the Volcker Rule. Risk metrics, or the alteration thereof, are being blamed for this latest example of trading malfeasance, but James says it’s continued vagueness over regulation…
SEC Stays Vague on Derivatives Regulation Timeframe
Details, but not dates, given by US regulator in road map for Title VII provisions.
One Little, Two Little, 40 Little SEFs
When the starting gun fires, there are expected to be a multitude of SEF entrants. That number must be pared down for an effective market to commence, officials say.
State of the Regulated: CFTC ‘Hopeful' About Finalizing a Torrent of Rules, Definitions
These yet-to-be-finalized rules—which include the definition of a swap—will provide both clarity and controversy as financial institutions work to comply with the regulations and implement new systems and platforms. And the CFTC is not done yet making…
New CCP Standards Seen as More Easily Enforceable
After speaking with William Dudley, president and CEO of the Federal Reserve Bank of New York, Mark Pengelly joins Channel WatersTechnology to talk about his findings.
The Blurred View of Risk
JP Morgan’s trading losses and SEF regulation round off a busy week.
SEFs Through the Looking Glass
While the rules trickle in for swap execution facilities, firms are investing in connectivity and platform design in anticipation of a deeper, more liquid market. As Tim Bourgaize Murray discovers, when it comes to the nascent SEF ecosystem, the future…
Tradition Reaches Agreement with NFA on SEF Regulatory Functions
Agreement includes technology standards to meet self-regulatory obligations.
Lombard Risk Releases Engine for Dodd-Frank Compliance
Software covers Title VII provisions for OTC swaps reporting.
OneChicago Seeks SEF Equivalency
OneChicago CEO David Downey has been lobbying hard for his exchange to be considered virtually the equivalent of a swap execution facility.
Equities Mask for Derivatives
Concerned about the danger posed by leveraged OTC derivatives, regulation is forcing many of those instruments from a bilaterally traded environment to a publicly traded one. Dealers are preparing for the automation of collateral management and clearing…
Rob Daly: Smarter, Not Faster, Wins the OTC Race
As US regulators finally define the parameters of the Dodd-Frank Wall Street Reform and Consumer Protection Act, dealers and other market participants are racing to have their systems ready to trade on the first day of the new regulatory regime. Rob…