Europe Takes First Steps Toward Electronic Derivatives Trading
In October 2013, US regulators ushered in a new era of derivatives trading with the establishment of swap execution facilities (SEFs). Born from the Dodd–Frank Act, these electronic platforms were designed to inject transparency into the arcane, opaque over-the-counter (OTC) derivatives market.
It was troubled from the word go. Crippled by a federal government shutdown that stopped the Commodity Futures Trading Commission (CFTC) from responding to concerns and queries, along with a contentious
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