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SEFs: Houses Built on Sand or Rocks? The introduction of SEFs was just one piece of the overall puzzle in the G20 swaps reform mandate. To see the whole picture, Galen Stops looks at the impact of swaps infrastructure rules on market participants' workflows and why MiFID ...
Worried About Liquidity? Deal With It! Market participants remain concerned about liquidity conditions in markets, but as Colin Lambert reports, central bankers are less than sympathetic. If 2016 is the year in which Swap Execution Facilities (SEFs) ramp up their market presence and seek to take their ...
SEFs: A Market Divided

21:36 October 22nd 2015 in Analysis, Special Reports

SEFs: A Market Divided

As the pace of regulatory reform for the swaps market slows, Galen Stops finds market participants divided on the impact that SEFs have had on the market.  Ask two different swaps market participants about the impact that Swap Execution Facilities (...
SEF Volumes: Changing Liquidity Patterns Since the introduction of SEFs, the liquidity on these platforms has remained very sticky, with clear incumbents in each asset class. But what does the data tell us about changing liquidity patterns and could competition be about to heat up ...
The FX industry’s favourite conference returned to Chicago in September, drawing record numbers. Close to 600 attendees converged in the Windy City for the annual Profit & Loss Forex Network Chicago conference in September to network, tour the exhibition hall and ...
FX continues to gain exemptions from the global authorities. Colin Lambert reports. Physically delivered FX forwards and swaps have been exempted in the final framework establishing the margin requirements for non-centrally cleared derivatives, published by regulators. The Basel Committee on ...
As one of the first banks to identify technology as a differentiator, in hindsight it is no surprise that UBS became a major prime broker at the same time it became the first major e-FX bank. The bank, across its ...
Morgan Stanley is taking a new approach to its FX prime brokerage business that focuses on a “three pillars” strategy – reversing the “all things to all people” approach put into place several years ago. Julie Ros reports. Morgan Stanley’s ...
It is fair to say that HSBC took its time getting into the FX prime brokerage business, whether to do so or not vexed the minds of several business heads at the bank before the decision to go ahead was ...
By focussing on banks, proprietary trading firms, broker-dealers and funds INTL FCStone is positioned to focus on sectors not serviced by the traditional players. Julie Ros reports.  INTL FCStone LLC operates in a somewhat unique space within the FX prime ...