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SEFs Still Looking for the Buy-side to Bite

By Jon Watkins
Published October 17, 2014 The Trade

New ways of attracting buy-side participation on swap execution facilities (SEFs) are emerging after a year of relatively slow progress for the US electronic trading platforms.

SEFs launched in October last year in line with regulatory mandates for OTC swaps to be executed electronically on the venues and then centrally cleared.

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CDS Notional Begins Increase Following Sizeable Slump

By Beth Shah
Published September 11, 2014 Global Capital

Overall credit default swap notional reported to swap data repositories last week increased 33% from the previous week, according to data from the International Swaps Derivatives Association.

This follows two weeks of falling volumes with a combined decrease of 57%. Overall interest rate derivatives that was reported, also increased by 18%.

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CDS Notional Continues Decline by 27%

By Beth Shah
Published August 26, 2014 Global Capital

ISDA reported that there was a 33% decrease in the notional cleared for CDS and 41% less executed on swap execution facilities, compared with the previous week. Rates also saw a decrease, with 18% less volume cleared, and 21% less executed on SEFs last week.

The total notional cleared only dropped to 74% in both asset classes, with a 6% drop in CDS, and 5% decline in rates. The total notional executed on SEFs also dropped in CDS and rates; 13% to 56%, and 5% to 47%, respectively.

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Tullett Prebon Debuts Pre-and-Post-Trade Feed for Rates Swaps

By Rob Daly
Published June 19, 2014 The Trade

Inter-dealer broker Tullett Prebon Information has launched a consolidated data feed, which combines pre- and post-trade market data for the interest rate swaps (IRS) market.

“With SEFs publishing trades on designated repositories, firms need ways to access this information and plug it into their own analytics and trading activities,” said Frank Desmond, managing director at Tullett Prebon Information. “The problem is, in its raw form, swap data repository (SDR) data is not always sufficient or even easy to digest. By standardising it and adding in our own indicative feed, firms have access to an in-depth market view from a service they already rely upon and trust.”

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US OTC Reporting Challenges Rise for Regulators, Buy-Side

By Marisal Collazo
Published November 28, 2012 The Trade USA

The third data repository for OTC derivatives trade reporting to be approved by US regulators has raised concerns that fragmentation of trade data may hamper effective regulatory oversight.

Last week, the CME Group joined the Depository Trust and Clearing Corporation (DTCC) and the IntercontinentalExchange (ICE) in gaining approval by the Commodity Futures Trading Commission (CFTC) to operate a swap data repository (SDR).

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SDR Data Sharing Clarified

Published August 25 2011 Markets Media

Swap data repositories based in the United States will be able to share information with their foreign counterparts without requiring indemnification, according to a final rule implementing provisions for SDRs published by the Commodity Futures Trading Commission.

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Derivatives Data Gaps May Hide Financial Risks

By Jim Brunsden
Published August 24 2011 Bloomberg

Regulators said they might not have enough information to assess the threat over-the-counter derivatives pose to the financial system.

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CFTC Repository Rule Won't Save Regulators From Data Leak Bills, Say European Supervisors

By Ramya Jaidev
Published August 23 2011 Risk Magazine

Regulators outside the US should have been celebrating the release of final rules on swap data repositories (SDRs) by the Commodity Futures Trading Commission (CFTC) on August 15 - the text attempts to resolve a clause in the Dodd-Frank Act that would make them liable for any costs that arise after data has been requested from a US-registered repository, including lawsuits triggered by data leaks. Unfortunately, the CFTC's fix won't do the trick, European regulators say.

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Regulators and Industry Tackle Data Standards

Published August 17 2011 Markets Media

A joint regulatory-industry effort is underway to develop standards for describing financial instruments and entities. Under the auspices of the Commodity Futures Trading Commission's Technology Advisory Committee, a subcommittee on data standardization has been created to develop identifiers that will aid in the collection, reporting and management of individual transactions.

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CME, ICE Will Proceed With Swaps Data Repositories

By Tom Steinert-Threlkeld
Published August 15 2011 Securities Monitor Technology

The CME Group and Intercontinental Exchange both plan to launch their own repositories for transaction data being generated by new derivatives trading exchanges, the trade information site Risk.net reported.

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