On Thursday May 1 the CFTC released an eagerly awaited clarifying document outlining when and how package trades would be required on SEF.  Packaged transactions will be phased in by type from May 15th through November 15th, and to deal with...

On October 2 swap execution facilities (SEF) became official and started reporting trading volumes. While this new level of Greenwich Associates transparency is exciting, today’s reported volumes don’t really matter. In addition to the lack of...