Sef volumes are starting to pick up after relatively slow start for the new venues
Trading on the new breed of US swap platforms hit a record
last month after months of slow trading in the aftermath of the
execution reforms that took effect in February.
According to the Futures Industry Association’s
(FIA) swap execution facility (Sef) tracker, the rise in
over-the-counter (OTC) derivatives volumes on the platforms was
driven by an increase in forward rate agreement (FRA) swaps
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