Thomson Reuters, ICAP Gain Temporary SEF Approval
Thomson Reuters' SEF will support trading of foreign exchange (FX) non-deliverable forwards (NDFs) and options.
"The implementation of our SEF is an important milestone for Thomson Reuters and our customers as we work with them as their strategic execution partner to meet their workflow and execution requirements," says Phil Weisberg, global head of FX at Thomson Reuters. "Going forward, as new regulations continue to come into effect around the globe, Thomson Reuters and FXall clients can rest assured that they will be able to continue executing their necessary FX trades in a manner consistent with current workflows and in compliance with all regulatory requirements."
Thomson Reuters SEF is set to start trading on Oct. 2. Registered customers will be able to trade electronically through the same system they use for FX spot, forwards and swaps, money markets and precious metals.
ICAP's SEF will operate markets for interest rate swaps (IRS), credit default swaps (CDS), commodities, equity derivatives and NDFs. Trading protocols include central limit order books (CLOBs), request for quote (RFQ) systems, block trade capabilities and crossings. Participants can access the SEF via ICAP trading applications and application programming interface (API), or independent software vendors.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
Messaging’s chameleon: The changing faces and use cases of ISO 20022
The standard is being enhanced beyond its core payments messaging function to be adopted for new business needs.
TT partners Thoma Bravo, Fitch launches GenAI solution, AI infrastructure woes, and more
The Waters Cooler: EquiLend acquires Trading Apps, Ultumus and BMLL partner for ETF data and analytics, and more in this week’s roundup.
CAT funding plan struck down by US appeals court
The 11th Circuit court ruled that the SEC had not established a sufficient precedent to pass the costs of the Consolidated Audit Trail on to broker-dealers.
T+1 for Europe: Crying wolf or real concerns?
Brown Brothers Harriman’s Adrian Whelan asks how prepared the investment industry is for the changes ahead, and if concerns about its implementation are justified.
Crackdown on FX vendors could raise costs for dealers
MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance.
Technical and regulatory questions surround Europe’s T+1 move
The EU roadmap mirrors the UK’s goal of an October 2027 move. With more than two years to prepare, firms must consider how to implement the non-prescriptive guidelines and weigh where to automate.
Asic probe piles pressure on ASX to deliver Chess replacement
But market insiders think late intervention by regulators could even slow down implementation.
Stakes raised for UK bond, EU derivatives tapes after Ediphy clinches win
The pressure is on for TransFICC, Etrading, Finbourne, and Propellant Digital, who are still vying to provide the UK’s fixed income consolidated tape after Esma awarded the EU’s tape to Ediphy and its partners.
