Overall Q3 SEF volume meanders, and SEF consolidation is expected to continue.
Boston, November 10, 2016 – In a sense the SEF market is lively—OTC derivatives are electronically traded on 17 active SEFs, cleared at central counterparties, and reported to swaps data repositories without major trade breaks—but the market remains in the doldrums. Some attrition and consolidation have narrowed the field, and there’s basically just one pure SEF startup still active. Yet most would agree that 17 active SEFs is still too many. SEFs have come a long way since their initial operation in October 2013, but what is their future outlook?
This report is the first in a new quarterly series that will review the SEF trading landscape on an ongoing basis, particularly focusing on market share of SEFs, trading models, operators, and operator types. The report is based on historical OTC derivatives trading data as publicly reported by SEFs and includes trading data from Q3 2016 to provide market color and direction on the SEF trading landscape.
This 37-page Impact Report contains 37 figures and three tables. Clients of Aite Group’s Institutional Securities & Investments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions 360T, BGC Partners, Bloomberg, Deutsche Boerse, GFI, Gain Capital, ICAP, ICE, CapitalStar, MarketAxess, State Street, Thomson Reuters, Tradeweb, Tradition, trueEX, and Tullett Prebon.