What You Need to Know about MXN Swaps

MXN Swaps are the 8th most traded interest rate swap at CCPs. 99% of cleared volumes are at CME, and most MXN swaps are now cleared. MXN swaps are a long-dated market. Almost half of all risk is executed in the 5y and 10y tenors. 66% of MXN swaps are executed on-SEF, but there is […]

2019 SEF Market Share Statistics

In this article I look at 2019 Swap Execution Facility (SEF) market share for Credit, Foreign Exchange and Interest Rate Derivative asset classes, in a similar format to my 2018 SEF Market Share Statistics. A brief summary is that 2019 volumes held onto 2018 volumes, a banner year, in both FXD and IRD but CRD volumes […]

Moving from Libor to SOFR/SONIA – Buyside Considerations

2020 is shaping up to be an important year for the development of markets in SONIA and SOFR. Recently on 21st November in a speech the FCA outlined plans to accelerate development of SONIA markets during 2020. Although plans are well advanced, the markets are still developing liquidity in longer-dated derivatives. I recently looked at […]