The U.S. Commodity Futures Trading Commission (CFTC) is poisedto push interest-rate and credit swaps onto trading platformsdesigned to make prices more transparent and competitive.
The agency's approval would follow a three-month review of plansto mandate that certain types of trades be conducted on swapexecution facilities, or Sefs, including those owned by JavelinCapital Markets LLC and trueEX LLC. The change, required under theDodd-Frank Act, could take place as soon as next month.
The mandate “is a real fundamental shift,” Kevin McPartland,head of market structure research at Greenwich Associates, said ina telephone interview. “It's going to impact how the clientsinteract with the banks on a day-to-day basis.”
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