Last week was a busy week in SEF land. November 1 brought in to play a host of new rules, the MAT wars heat up and the Commission made the void rule even more confusing than it was before. So where has that left us? With a huge drop in SEF volumes and a bunch… Read More »
OK, so not all of it. On Friday at 5:55pm (which I guess is better than 11:59p on October 31) the CFTC issues somewhat expected no-action relief for parts of the SEF rules set to take effect on Friday November 1. It focuses on the so-called Void Rule (discussed in an earlier post), and states… Read More »
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 don’t really matter. In addition to the lack of reporting standards which complicate doing an apples to apples comparison (i.e. voice vs. electronic, D2D vs. D2C, FRAs vs. IRS), the… Read More »