Swap execution facility (Sef)

Sef connectivity hurdle looms for bank platforms

Many single-bank platforms have elected to connect to swap execution facilities, where they can route regulated products rather than losing that business altogether. But the new model requires connectivity to multiple platforms, which could be costly and…

Spotlight on: James Watson, FXall

FXall’s newly appointed head of Europe, the Middle East and Africa talks to FX Week about his recent move from an equity sales role at Morgan Stanley into the FX market, and his aspirations for the platform’s European business

Spotlight on: Ron Levi, GFI Group

The interdealer broker’s chief operating officer talks to Joel Clark about the growth of GFI Group during its 25-year history, its strengths in foreign exchange, and why he expects to be among the first wave of brokers to register as a Sef under the US…

Sprint to the finish line for would-be Sefs

With the clock ticking ever closer towards the G-20’s end-of-2012 deadline for implementation of over-the-counter derivatives market reforms, and some of the critical details of those reforms still not fully fleshed out, the scene is set for an almighty…

Spotlight on: Jeffrey Hogan, BGC Partners

BGC’s managing director for business development talks to Joel Clark about the interdealer broker’s voice and electronic broking capabilities in FX, and his extensive work with regulators to ensure new rules for over-the-counter derivatives are…

Taking stock of 2011: Technology

Upgrading forex trading systems to prepare for regulatory change or simply keep pace with competitors has been a key trend of 2011 for all participants. In the final part of a series of articles taking stock of the year so far, Miriam Siers and Chiara…

Sefs lose their painful bite

The prospect of swap execution facilities under the Dodd-Frank Act initially struck fear into the operators of single-dealer platforms facing a possible loss of business. The appearance of the Sef Clarification Act last month, coupled with a changing…

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