We all know that the massive reduction in dealer inventories and the cost of capital has had a huge negative impact on liquidity in the corporate bond market. While the primary market has helped soften the blow, that crutch isn’t going to be here...

Tuesday February 18th is certainly a big deal. Requiring swaps to trade on registered platforms was one of the primary tenets of derivatives reform since shortly after the Lehman big bang theory bankruptcy, and finally the day has arrived. This is...

Its true. If you step back and think about it for a minute, the work carried out over the past four years to create an electronic swaps metia-logomarket almost from scratch is pretty amazing. PR Metia just released their FinTech Insight 2014 report...

The year 2013 will likely go down as the year of mandatory clearing. Once ignored by eager financial market Greenwich Associatesprofessionals as boring back-office stuff, collateral management, credit limits and all other things clearing stood front...

Who would have guessed that Black Friday would have turned out to be a big day for SEF trading. Both Javelin and Tradeweb resubmit their MAT filings, both scaling back the number of products made available for trading. This is a big deal for a few...

Forgive me if I’m stating the obvious for some of you, but I’ve had this conversation more than once and felt some clarity was in order here. As we work through the made available to trade (MAT) process, it’s important to reemphasize what actually...

Last week was a busy week in SEF land. November 1 brought in to play a host of new rules, the MAT wars heat up and the Commission made the void rule even more confusing than it was car-flying-off-cliffbefore. So where has that left us? With a huge...

OK, so not all of it. On Friday at 5:55pm (which I guess is better than 11:59pm on October 31) the CFTC issues somewhat expected no-action relief for parts of the SEF rules set to take effect on Friday November 1. It focuses on the so-called Void...

On October 2 swap execution facilities (SEF) became official and started reporting trading volumes. While this new level of Greenwich Associates transparency is exciting, today’s reported volumes don’t really matter. In addition to the lack of...