Trying to divine the evolution of the SEF landscape

Trying to divine the evolution of the SEF landscape

I’ve been at Greenwich Associates a little over a year now.  Since I’ve been here I’ve written a few blog posts about SEFs, but have…

Corporate End Users Unfazed by Derivatives Reform

Corporate End Users Unfazed by Derivatives Reform

Earlier this year we spoke with just shy of 400 corporate treasurers about their use of interest rate derivatives.  Given this group of IRD users…

Package trade rules – can they do that?

Package trade rules – can they do that?

On Thursday May 1 the CFTC released an eagerly awaited clarifying document outlining when and how package trades would be required on SEF.  Packaged transactions will be…

Why SEF Volumes Don’t Matter (Yet)

Why SEF Volumes Don’t Matter (Yet)

On October 2 swap execution facilities (SEF) became official and started reporting trading volumes.  While this new level of transparency is exciting, today’s reported volumes…

Speaking at the OTC Derivatives Summit in NY: 2-day VAR vs. 5-day VAR

Speaking at the OTC Derivatives Summit in NY: 2-day VAR vs. 5-day VAR

Today (Sep 17, 2013) I’m moderating a swap futures panel at the Institutional Investor Fixed Income Forum event in Westchester County.  For those of you…

MF Global, Innovation and Swaps Reform in the Financial Times

The FT published a great special section this past Monday on the state of OTC derivatives reform. Coverage ranged from the impact of MF Global…

The Kevin on the Street Top Ten Stories of 2011

I officially launched Kevin on the Street in the spring of 2010, so 2011 was its first full year of operation.  Not like the world…

Regulators Approve a New Window Into 'Swaps' (Wall Street Journal)

It seemed like the CFTC’s meeting yesterday (Dec 12th) would be a big one; we’d find out the size of a block trade and in…

SEF Surveillance

With so much focus on execution methods and block trade rules, little talk has been had about another SEF requirement: surveillance.  Keeping your market participants…

Presenting to the CFTC on Swaps Liquidity Fragmentation (and Aggregation)

On Tuesday, December 13th I presented to the CFTC Technology Advisory Committee. Chairman Gensler and Commissioners O’Malia and Wetjan were all there. Each panelist, myself…