Global Swaps Liquidity Fragmentation 2016: Redefining the Balance
Since the implementation of Swaps Execution Facility (SEF) mandates in late 2013, there has been a collective anxiety with global interest rate swaps market participants that liquidity pools would fragment along regional lines. Recent interdealer clearing data published by the International Swaps and Derivatives Association (ISDA) and compiled by LCH.Clearnet SwapClear indicates that cross-border liquidity fragmentation for certain global swaps markets has been and will continue to be a reality.
This TABB Group report, Global Swaps Liquidity Fragmentation 2016: Redefining the Balance, TABB Group examines recent interdealer cleared trading activity compiles by LCH.Clearnet SwapClear and published by ISDA to establish the new cross-border liquidity pool dynamics for swaps trading activity for interest rate swaps in the wake of Dodd Frank Title VII SEF rule implementation.
- Fixed Income