SEF Industry Barometer: Summer 2014
Last October, SEFs officially came on line and swaps trading hasn’t been the same since. After months of speculation and anxiety, the initial round of Made Available to Trade (MAT) determinations came into effect and for certain swap contracts SEF trading stopped being an option and became a legal obligation. These mandates have been a catalyst for growth in the SEF market and six months later we are starting to see certain SEFs breaking away from the pack- the question is, who can keep the pace?
Last summer’s SEF Industry Barometer outlined the implications of newly finalized SEF rules and the Industry’s vision for the future of SEF trading and the OTC market as a whole while our 2011 report focused on the industry’s stance on initial key issues still being debated today. This is TABB Group's fourth SEF Industry Barometer and we have incorporated the relevant results from each study within the 2014 Barometer to produce historical narrative of the industry’s perspective on SEF trading as the market evolves.
Results are based on responses from over 130 market participants including major dealers, interdealer brokers, SEFs, exchanges, asset managers, hedge funds, proprietary trading firms, clearinghouses, regulators, end users and others. TABB Group Director of Fixed Income Research Anthony Perrotta and Analyst Colby Jenkins provide analysis alongside the data, discussing the industry’s views and what that will ultimately mean for the swaps market.
- Fixed Income