US equity markets are always touted as the poster child for electronic trading, but our most recent electronic trading study results (see chart below) prove that view is somewhat misguided.  Driven primarily by new rules requiring index CDS...

No new swaps have been mandated to trade on SEFs since the original determinations were made two years ago. The CFTC recently called a panel to understand why and what they should do to change the logjam we are in the middle of now. We were pleased...

Liquidity in the corporate bond market is tough.  We've written about it time and time again.  At a high level we see two solutions.  One, inject new electronic trading tools and liquidity providers into the existing corporate bond...

Turned out the first week of mandatory SEF trading was a Big Bang, just in the wrong direction. Reported SEF volumes for interest rate swaps fell off a cliff for the week of February 17th, cliff signdropping 64% (revised down slightly as new data...