Prop shops to rival dealer market-makers on broker Sefs
Impartial access rules for Sefs allow firms to gatecrash interdealer market
Rules that require swap execution facilities (Sefs) to offer impartial access are set to bring years of over-the-counter market tradition to an end, by allowing hedge funds, proprietary traders and asset managers into the clubby, interdealer portion of the market.
A number of these firms are now in talks to join broker-run Sefs that are currently the preserve of incumbent dealers. The firms are attracted by the liquidity available on the exchange-like order books the platforms offer, and some
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Trading platforms
Electronic trading of corporate bonds still work in progress
Industry members discuss the growth of electronic trading of corporate bonds
A range of investable indices to meet client needs in alpha and beta generation
Sponsored video: Societe Generale
Japan FSA threshold for trade execution 'extremely high'
Only banks with ¥6tn in derivatives must trade swaps electronically
QIC first Australian buy-side firm to execute on a Sef
Money manager looks to access all liquidity pools
Market hits back at Hong Kong plans to bar retail access to dark pools
SFC proposals to keep retail investors on the lit market come under fire
Korea clearing structure in question after HanMag trading error
Korea trading snafu casts doubt on KRX's default fund structure
Australian dark pool rules shift liquidity back to the lit market
Decline in broker-dealer dark pool volumes after Asic introduces requirements for price improvement
Australia dealers face Sef time zone issues
CFTC rule poses clearing challenges for dealers whose markets close before clearing operations in London open
