SEF Trading 2019: Reading Between the Numbers

On October 2, 2013, the first swaps trade was executed by mandate on a swaps execution facility (SEF). In the six years since SEF trading went live in the U.S., much of what defined the early trading landscape has given way to a new status quo of electronic workflow. In the previous state of flux, both the buy-side and sell-side grappled with myriad workflow obstacles and issues of regulatory and reporting uncertainty. Today, the major areas of change are occurring with respect to trading patterns and SEF market share.

In the most recent installment of TABB Group’s investigation into the evolving U.S. Swaps market, SEF Trading 2019: Reading between the Numbers, TABB Group examines publicly available trade data to break down recent developments in the U.S. Interest Rate Derivative, Index Credit, and FX swaps markets for shake ups in SEF market share and volume trends.