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  1. Bloomberg and UBS clash over Sef aggregation

    Tensions between the two firms first became public in June this year, when Paul Hamill, head of execution services at UBS in New York told Risk.net that Bloomberg had configured its platform so "it is still not possible for a client to choose the...

  2. Sef execution of package trades to be postponed

    The Commodity Futures Trading Commission (CFTC) is to postpone the migration of the most complex package transactions into swap execution facility (Sef) trading after recognising that US swap market participants are not prepared to execute them on...

  3. Rise of the retail structured products app

    New apps deliver market information and basic execution functionality There is now a structured products app aimed at the retail market. Of course there is; why wouldn't there be? After all, the creation of a structured product is the closest most...

  4. UBS stays firm despite commodities downturn

    As a result, UBS has successfully set up several new indexes and strategies on a bespoke execution basis for its clients in Europe and the US, which prefer selective investment in commodities - assets under management (AUM) on this platform has...

  5. Industry confronts hard choices in CCP recovery debate

    Those aren't bad ideas in their own right, but we believe CCPs won't be able to liquidate or port positions in 24–48 hours without causing extreme further chaos in the markets," says Emily Portney, global head of agency clearing and collateral...

  6. CME rule hurts FX broker business, say participants

    The contracts have typically been transacted by commodity trading advisers who prefer to book futures positions by initiating the execution in over-the-counter markets where there is better liquidity before submitting them through CME Clearing.

  7. Markit venture is first casualty of US swap flop

    Nonetheless, in promotional material from January 2014, Markit said it was processing more than 80,000 derivatives actions each day and claimed to have more than 1,500 active clients on the service, including dealers, buy-side entities and...

  8. Buy-side firms slam broker Sefs over lack of anonymity

    An old broking practice is causing unrest in the new world of swap execution facilities (Sefs). Total notional volume traded on Sefs in September hit a new high of $1.4 trillion according to figures provided by Paul Hamill, global head of foreign...

  9. Deutsche Bank CRO: derivatives becoming loss leader

    In addition, the derivatives business is going through huge structural change, with the advent of mandatory central clearing and new execution requirements, which in the short term are adding to the cost of doing business, hurting volumes and...

  10. Citadel ‘nervous’ about lack of Sef competition

    Derivatives end-users are increasingly worried that just two swap execution facilities (Sefs) – Bloomberg and Tradeweb – are dominating dealer-to-client trading. The remaining 7% was split between a small group of execution venues that include Ice...

  11. JSCC to gain DCO status from US regulator before year-end

    Ananda Radhakrishnan said that, after meetings that went extremely well, he could see no issues with issuing JSCC a DCO licence, which would allow it to clear US client trades and also trades submitted by swap execution facilities (Sefs)," he says.