By Anthony Malakian
May 8, 2015, Waters Technology
A little over a year ago it became mandatory to execute certain swaps contracts on electronic platforms known as swap execution facilities (SEFs). There's little doubt that this is one of the greatest changes the capital markets have experienced since the introduction of the Dodd-Frank Act, even if the revolution of electronic trading on SEFs has been slow to take hold.
But that generalization doesn't apply to New York-based Tradeweb, which has carved out a niche for itself in the interest-rate swaps market, which helped it win the inaugural award as the best swap execution facility in this year's Sell-Side Technology Awards, thanks to its TW SEF platform.
When it comes to compression trading, according to Tradeweb's CEO, Lee Olesky, the firm has more than 40 clients that traded $189.5 billion in March 2015 alone, and a total of some $1.02 trillion traded on the platform since its launch in March 2014.
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