SEF’s: A Brief History (One day to go)
WE’RE NEARLY THERE The October 2nd SEF date is nearly upon us. It appears the world of SEF’s are going live with only a couple CFTC reliefs being granted for trade reporting (no relief for IRS and CDS). The pace at which new utilities were born and approved by the CFTC seems unprecedented. So […]
SDRFIX, a progress report two weeks after launch
On Sep 11, we went public with SDRFix and started publishing this daily on our website at SDRFix Data. In this article I am going to summarise our progress, lessons learned and our plans going forward. Press Coverage To start with the announcement generated excellent press coverage with Risk, Bloomberg, FIA Smartbrief & Euromoney all picking […]
SEFs: Three More Join
The world of SEF’s continues to move forward. 10 days on from my last update, and I’m back to summarize the updates. My forecast was correct, in that Tradition finally got their application in, and we saw another “traditional DCM” apply, CME. UPDATED SUMMARY The SEF Summary Table below demonstrates some headline statistics: 1) The […]
Mandatory Clearing, Sep 9, a whimper not a bang?
The third (and final) phase of mandatory clearing under the Dodd-Frank Act began on Sep 9, 2013. See the CFTC announcement. So in the same vein as my article “Mandatory Clearing, June 10, Week One and YTD“, I wanted to look at what the data shows. As usual lets start with some charts from SDRView […]
SDRFIX, a new index for a post-reform world
Today we put out a press release announcing a new product, see SDRFIX, a new index for a post-reform world. The announcement is also covered today on Risk.net (subs access), see ISDAFIX faces rival based on swap repository data. The latter has the tag-line “New end-of-day benchmark is “much harder to manipulate” than industry standard IsdaFix”. Not […]
SEF’s: Who’s joined the Party?
Nearly 2 weeks ago, Tullet Prebon announced their SEF filing with the CFTC, which inspired me to do some research into the SEF registrations to date. I blogged about it here; who they are, what they had planned to provide, etc. Towards the end of the blog, I posed the question, where was ICAP, BGC, […]
Real-time reporting of Swap transactions
Today we put out a press release announcing the real-time reporting of Swap transactions in our SDR View application and I wanted to provide some further insight into the value and importance of this. First lets start with some recent history, always a good start for financial markets. The DTCC DDR real-time dissemination dashboard has […]