For Eaton Vance, SEF Aggregation Demonstrates 'Art of the Possible'

Centrally cleared swaps have pushed Eaton Vance's IT and trading teams closer together. Above, CTO John Shea.

Dating to 1867, Bismarck's laconic description of politics as "the art of the possible" favors tactical pragmatism over longer-term idealism. In 2014, many asset managers anticipating the MAT mandate this week will surely sympathize.

Confusion over swap execution facilities' (SEFs') individual rulebooks, and issues around the Commodity Futures Trading Commission (CFTC) rule 1.35 specifically, have made the ideal approach—evaluate the venues, make a few selections, and connect to them outright

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