Major Banks Move to Aggregate Swap Execution Facilities
By Duncan Wood
Published July 5 2011 Asia Risk
The Dodd-Frank Act created a multitude of would-be swap execution facilities (Sefs) – trading platforms that will aggregate dealer liquidity. Now, dealers want to hoover up the Sefs by building their own aggregation services, but it’s a strategy that could force the over-the-counter derivatives business into strange new territory.
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