Sef rules expected to catch swap packages from mid-May
Curve trades and swap spreads will have CFTC protection lifted from mid-May if they contain a leg that is subject to Sef requirements, platform operators expect. More complex packages may see relief extended
Packaged swap transactions including curve trades and swap spreads will likely be forced onto trading platforms from May 15, swap execution facility (Sef) operators have predicted, with the Commodity Futures Trading Commission (CFTC) not expected to extend a temporary safe harbour protecting the less complex of these products from the Sef-trading mandate.
Speaking during a panel discussion at the annual conference of the Futures Industry Association in Florida, Sef representatives predicted
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