Brokers See SEF Record-Sharing As Tough To Meet

Requiring swap execution facilities to post position data for traders would be a difficult requirement for SEFs to meet, according to brokers. In a letter to the Commodity Future Trading Commission, Stephen Merkel, chairman of the Wholesale Markets Brokers’ Association Americas in New York, wrote, “While SEFs will monitor for manipulative and abusive behaviour, given the competitive relationship among trading systems and platforms, SEFs will be unable to obtain position data from other SEFs.”