Sef regime begins, but platforms concerned over 'permitted' rule


New rules governing swap execution facilities (Sefs) under the US Dodd-Frank Act come into effect today, but some foreign exchange platforms remain concerned that a surprise element of the final rules, which mandates that multiple-to-multiple platforms trading non-mandated swaps must be registered as Sefs by October 2, could drive trading back to the phone or single-dealer platforms.

The so-called ‘permitted' rule meant a sudden scramble for some platforms, which had previously assumed that, as

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: