The CFTC has today published the final rules for swap execution facilities (SEFs) with the Federal Register, giving swaps dealers and other firms two months to register with the CFTC for approval of their venues for cleared and executed over-the-counter transactions.Most of the new rules will become effective August 5, 2013 and the official compliance… Read More >>
Sifma Takes on New SEF Rules
The CFTC’s new rules for swap execution facilities have spurred controversy and Kenneth E. Bentsen, Jr., acting president and CEO of securities industry advocacy group Sifma, has recently voiced his opposition to key provisions of the final rules.In mid-May, the CFTC gave the initial green light to the rules governing the exchange-like SEFs. With the… Read More >>
OTC Overhauls Hit Home
Shortly after CFTC Commissioner Bart Chilton declared at the 7th Annual OTC Derivatives Operations & Processing Conference last week that the Dodd-Frank reforms will deliver transparency, it became clear during a subsequent discussion that if firms haven’t done so, they need to get their IT architectures in place now to stay on top of the… Read More >>
State Street and OTC Processing
State Street is spreading the word about its end-to-end package for processing over-the-counter (OTC) derivatives—which includes middle and back office services—just as OTC reforms are likely to cause buy-side firms to choose between a best of breed or an integrated suite approach for the operational tapestry to come for executed and cleared OTC instruments. As… Read More >>
