Duffie: SEC plan heralds all-to-all Treasuries trading
Former Fed adviser welcomes long-advocated Treasuries clearing mandate
A Securities and Exchange Commission (SEC) proposal mandating the central clearing of a large portion of US Treasury transactions could herald a shift to all-to-all trading within five years, according to Darrell Duffie, a Stanford professor who has advised the Chicago Federal Reserve on central clearing.
Duffie cautiously anticipates that “in three to five years, if everything goes well, either existing platforms or new platform entrants could begin to offer alternative trade services”.
“It
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