SEF snuff threat as deal drought menaces market minnows

Game Over 230x150
By Beth Shah, Daniel O'Leary
15 May 2014

A number of swap execution facilities (SEFs) may be forced into a fight for survival as they struggle to attract liquidity and trading volumes. That has raised questions over how SEFs can survive a derivatives market undergoing heavy reconstruction, report Beth Shah and Daniel O’Leary.

It is the smaller SEFs that are expected to come under the most threat. Data from Clarus Financial Technology shows that, in the last week, SwapEx has executed no interest rate swap (IRS) volume and $83m of FX swaps, with TrueEx executing no FX transactions and $1.01bn of ...

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