MAT Design Seen as Strange by FCMs, SEFs
MAT is a process by which certain OTC instruments are mandated to trade on Swap Execution Facilities (SEFs), the execution venues for standardized derivatives contracts that were brought into being during October. Currently, the US Commodity Futures Trading Commission (CFTC) has instigated a process whereby SEFs make an application to the regulator, outlining which instruments they propose will be eligible to trade on their platform.
As of December 10, there have been submissions from five
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