Tullett Prebon wins forwards prize for 11th year running

The broker comes top of the pile yet again

As melodramas go, the dispute between US and European regulators over an equivalency system for swap execution facilities (Sef) had it all – inter-continental spats, mind-bending complexity, bemused onlookers and frustrated market participants.

FX brokerages had a ringside seat as the issue waxed and waned during the first half of the year. Many had designs on offering Sef-like liquidity to US clients in Europe, but found the gulf between the Commodity Futures Trading Commission's (CFTC) Sef

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