Roll Out the Welcome MAT

Roll Out the Welcome MAT

On Friday afternoon Javelin SEF filed the first made available-to-trade application with the CFTC (thanks Jamie for making us all scramble around on a Friday…

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…

The Economist: Not with a Bang

The Economist: Not with a Bang

I talked to an Economist reporter based in Paris on Wednesday (October 2) about what the first day of SEF trading means to the market.…

SEF Day: A boring October 2 is official, but in 10 seconds or less

Quite a lot of hoop-la on Friday (September 27, 2013) around the October 2 SEF implementation deadline. On that point, the response to my post…

October 2nd Should Be Boring (Unless the CFTC Kills Electronic Trading)

October 2nd Should Be Boring (Unless the CFTC Kills Electronic Trading)

On October 2 the CFTC’s swap execution facility (SEF) rules are scheduled to finally take effect. It’s amazing that we’ve finally gotten to this point,…

Greenwich: Fixed Income Investors Grapple with New Regulations and Rising Rates

Greenwich: Fixed Income Investors Grapple with New Regulations and Rising Rates

Each year Greenwich conducts a North American Fixed Income study. This year we conducting 1027 interviews of buy side portfolio managers and traders about everything…

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…

How Capitalism and Technology Can Fix the Equity Market

How Capitalism and Technology Can Fix the Equity Market

Free-market capitalism will ultimately lead any marketplace to its ideal state. Over the past half-decade this principle has driven my hypothesis that regulators should not…

Determining if SEF Aggregation Really Matters

Determining if SEF Aggregation Really Matters

This post also published at TabbFORUM.com Regulations will have a significant impact on how SEF aggregators function and how widely these aggregators will be adopted…

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…