Sefs, shutdowns and no-action confusion

The new Sef trading regime came into force on October 2, but a flurry of last-minute no-action letters has left platforms confused – and there is no one at the CFTC to answer their questions. Peter Madigan reports

Concept image of a cloud question mark

As the October 2 start-date for the Dodd-Frank Act’s new swap execution facility (Sef) regime drew ever closer, a consensus emerged among market participants that despite a growing clamour for a delay, the Commodity Futures Trading Commission (CFTC) would push ahead with implementation. They were right. Unfortunately, due to the US government shutdown, there was hardly anyone at the CFTC on October 2 to witness it – or to answer the queries that emerged from newly approved Sefs and their clients

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 copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here