Global inconsistency remains a challenge for would-be Sefs
The high possibility of inconsistent criteria and definitions for US swap execution facilities (Sefs) and their European counterparts, coupled with the possibility that participants in one jurisdiction could be caught by the rules of another – a concept known as extraterritoriality – remain the biggest challenges for trading platform operators gearing up for Sef registration, according to participants in a live webinar hosted by FX Week earlier this week.
"I think extraterritoriality is probably
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