Global inconsistency remains a challenge for would-be Sefs
An ongoing lack of clarity and the potential for extraterritoriality in swap execution facility rules is creating a bumpy ride towards registration, according to three putative Sefs
The possibility of inconsistent criteria and definitions for US swap execution facilities (Sefs) and their European counterparts, coupled with the possibility that participants in one jurisdiction could be caught by the rules of another – a concept known as extraterritoriality – remain the biggest challenges for trading platform operators gearing up for Sef registration, according to participants in a live webinar hosted by Risk.net's sister publication FX Week.
"I think extraterritoriality is
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