Weak demand for EUR/GDP swaps on Sefs is persuading MTFs to not comply with rules after May 15
Europes largest swaps
trading venues are going off the idea of applying to US
regulators to continue trading with US firms after the waiver
that currently allows them to do so runs out next month,
writes Joe Parsons.
Sources told FOW most European
swaps trading platforms are talking to clients about whether
they should apply for the extended relief and the early signs
are there is little demand for Euro and Sterling-denominated
interest rate swaps to be traded on US swap execution
Europes multilateral trading
facilities (MTFs) have until May 15 to register with the US
Commodity Futures Trading Commission (CFTC) and comply with
certain requirements in order to trade swaps with US persons
after that date.
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