DerivAlert Commentary

SEFCON V Conference: Analyzing SEFs and the Derivatives Trading Industry

Posted on Wed, Oct 29, 2014 @ 09:44 AM

If you needed any further evidence of the long and winding road that derivatives reform has taken since the days when the Dodd-Frank Wall Street Reform and Consumer Protection Act was beginning to take root, look no further than SEFCON.  Now in its fifth year, the industry conference was one of the first to talk about what a SEF was back in 2010.

This year’s conference, SEFCON V, will be held on Tuesday, November 12 at the Grand Hyatt Hotel in New York. Among the featured guest speakers at the conference are CFTC Chairman Timothy Massad and ISDA CEO and former CFTC Commissioner Scott D. O’Malia, along with a group of leading market participants and industry analysts.

Chris Amen, head of U.S. institutional rates markets at Tradeweb will be amid those leading the discussion on a panel titled SEF Tech. The panel will examine the technological solutions being implemented in response to challenges facing SEFs and market participants, whether technology is a differentiator for SEFs and integration of front-end systems for SEF trading among other topics.

With just over one full year of SEF trading under their belts, industry participants will address the lessons learned over the last 12 months, discuss cross border regulatory challenges and review overall SEF volumes.

To view the full program for SEFCON V, please click here.

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Tags: Timothy Massad, Dodd-Frank, ISDA, CFTC, SEFCON V, Tradeweb, Scott O'Malia

CFTC Commissioner O’Malia Focuses on Swap Execution Facilities at 12th Technology Advisory Committee

Posted on Wed, Jun 04, 2014 @ 09:19 AM

The CFTC is training its sights on increasing buy-side participation on swap execution facilities (SEFs), according to remarks made Tuesday by CFTC Commissioner Scott O’Malia. At the 12th Meeting of the Technology Advisory Committee (TAC), Commissioner O’Malia underscored the importance of testing the impact of the CFTC’s SEF rules, and encouraged TAC members who operate SEFs to share their experiences.

“I would like to know whether the Commission’s rules have created a barrier to trading on SEFs and are forcing market participants to turn to alternative execution solutions,” O’Malia stated at the gathering.

O’Malia called upon Tod Skarecky of Clarus Financial Technology to provide an overview of SEF trading to help the Commission identify the recent developments in trading, as well as Wendy Yun, Managing Director, Goldman Sachs Asset Management and Michael O’Brien, Director of Global Trading, Eaton Vance, to provide the buy-side perspective.

To read O’Malia’s complete remarks, click here.

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Tags: rules, swap execution facilities, CFTC, SEFs, Technology Advisory Committee, Scott O'Malia, regulators, TAC