The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

SEFs: the wannabe exchanges

Until the rules implementing Dodd-Frank are clear no one knows what the shape of execution services will look like, but one thing is for sure, there will almost certainly be an influx of new participants into this burgeoning marketplace.

Financial industry research firm Tabb Group says there could be more than 20 swap execution facilities (SEFs) within two years. Already some participants, such as interdealer brokers, are establishing electronic marketplaces for derivatives.

Here is a list of existing participants that say their platforms will qualify as swap execution facilities under the new regulations:

TradeWeb (electronic trading platform owned by Thomson Reuters)

IntercontinentalExchange (regulated exchange)

Eris Exchange (established by five Chicago-based equity/futures trading firms)

Javelin (established by a group of, as yet, unnamed banks)

Icap (world’s largest interdealer broker)

GFI Group (interdealer broker)

Tradition (interdealer broker)

BGC Partners (interdealer broker)

MarketAxess (electronic trading platform)

see also: 

Gary Gensler: Banking's enemy #1
European regulation in line but a different starting point

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree