SEF: Week 21, First Week Data

First week of MAT trading down.  Began as a quiet week, particularly given the US holiday.  As Amir Khwaja writes about in his analysis of SDR data on the first week of SEF trading, the data returned to roughly match the 4 days of activity from the previous week.  We can also see from his analysis that roughly 80% of MAT-eligible products were traded on-SEF, or 93% in notional terms.  Hence the remainder would be packaged or non-par swaps.

This first week saw an interesting first:  UBS announced they had executed the first introducing broker agency trade, which was credit checked and executed as a block on TrueEx’s CLOB, and leveraged UBS’s standby clearing.  Interesting to see a few things come together there.

DATA

A quick summary of the previous week:

Summary-20140221 (USD Equivalent in Millions, excluding FRA's)
Summary-20140221 (USD Equivalent in Millions, excluding FRA’s)

And on a weekly basis:

Weekly-20140221 (USD Equivalent in Millions, excluding FRA's)
Weekly-20140221 (USD Equivalent in Millions, excluding FRA’s)

WHAT CAN WE MAKE OF THIS?

As with any large change, best not to try and read too much into the data for the first week.  The data did seem to roughly match the previous week (adjusting for the holiday), and we witnessed the usual trends in each asset class continue.

As usual, the data is up on SEFView, so click through there to see it for yourself.

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