Clarus believes firms are trying to dodge the Sef rules by using esoteric products
The slow take-up of swap execution facilities in the US is
partly down to firms changing the terms of their swaps so they
fall outside the rules, an expert in this nascent market has
Clarus Financial Technology, a consultancy, said nearly half
of all USD interest rate swaps are being traded away from Sefs
some four months after rules took effect mandating banks to use
these venues to trade standard swap contracts.
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