We'll Connect to Only Five or Six SEFs, Say Buy-Siders
Babson has five or six preferred SEFs. Vanguard has chosen three for trading rates and two others for credit. Vanguard's Sam Priyadarshi, head of fixed-income derivatives, said the decision stemmed from a desire to stay ahead of the trading mandate. Winnowing down the final list allows his firm to jump-start the onboarding process with the chosen five
"There are a lot of operational issues: connectivity to the order management system, straight-through processing, credit checks with credit hubs
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