Talk:Swap Execution Facility

Profiling the emerging Swap Execution Facility landscape
Started this preliminary list of potential SEF players and was wondering if there are any major omissions? [have not seen additions for at least six months but likely missing good coverage in UK and Asia]

Trying to envision what parts of the overall swap business potentially change the most from regulation driven consolidation and commoditization?

Noted that as of about May 2012 4,900 single name CDS trade daily (but only 1% of those trade 20x or more per day), followed by 1,800 CDS index trades (with just 5 indexes consuming 60% of those index trades). So that credit area of swaps looks prime for growth under more the formal SEFs.

Not sure on the elasticity of demand for the “standardized” Interest Rate Swaps? Looks like the futures markets already has that “commodity” (higher volume) trading market quite well covered?

FX? Is there a huge market for FX swaps? Why not just buy and sell the actual currency on the spot market and/or go with standard, exchange traded “commodity” futures contracts? (O.K. I admit I’m pretty FX trading challenged…lol!)

Energy swaps (and other non financial commodity swaps) seem pretty well isolated with their own trading? (Do financial types (e.g. general portfolio managers) dabble in energy derivatives? Or, is this swap trading just limited to energy producers and consumers?)

One burning question? Is the trading, clearing and settling technology all that different across each swap "product" type (single name credits, index credit, interest rate, FX, energy)? Or does one technology base serve all?

If there is regulation induced change causing some consolidation and commoditization, can the new or “updated” technology code base that supports those requirements be amortized over wider swap product groups? Are there any technology economies of scale opportunities across most of the swap landscape? From just a quick look at the above entity listing, and what they are currently promoting as areas of expertise, it strikes me as many are “home grown” technology silos? Is there potential, with the push to regulate, to bulldoze down the silos and have greater commoditization of the trading technology and trading infrastructure? Rick (talk) 14:21, 24 October 2012 (UTC)

Undid large deletion to Swap Execution Facility
Undid the deletion of firm listings in Swap Execution Facilities. Its not a list that violates WP policy. Its clearly not:

Genealogical entries
 * Lists or repositories of loosely associated topics such as (but not limited to) quotations, aphorisms, or persons (real or fictional).
 * The White or Yellow Pages. Contact information such as phone numbers, fax numbers and email addresses are not encyclopedic.
 * Sales catalogs
 * Changelogs or release notes.
 * Non-encyclopedic cross-categorizations
 * A complete exposition of all possible details

That leaves:
 * Directories, directory entries, electronic program guide, or a resource for conducting business.

''For example, an article on a radio station should not list upcoming events, current promotions, current schedules, etc., although mention of major events, promotions or historically significant program lists and schedules may be acceptable. Likewise an article on a business should not contain a list of all the company's patent filings. Furthermore, the Talk pages associated with an article are for talking about the article, not for conducting the business of the topic of the article.''

I created the listing. I have zero business with any of the firm directly or indirectly.

Regulation of swaps is a key component of the attempt by US/UK/Asia to regulate the derivatives market, such that the 2008 financial crisis is not repeated. Each of those firms listed plays a role in the swaps market. Most are "at cost" operations. Each is to be heavily regulated.

I note WikiPedi suffers from participation of financial experts. This is unfortunate because collectively Wikipedians could contribute much to the common good. I look at "the competition" in the finance are and I see that much remains to be done at Wikipedia:


 * http://www.marketswiki.com
 * http://www.investopedia.com
 * http://www.wikinvest.com

If you were a fresh reporter at FT, WSJ, NYT where would you "background"? Rick (talk) 20:32, 30 June 2012 (UTC)


 * I had removed the links per WP:NOTDIRECTORY and WP:LINKFARM. In my opinion, it is an excessive long list of links that acts like a directory.  Additionally, the list of firms may or may not meet the notability guidelines and can be see an advertisement.


 * However, upon closer review, it appears that the list of links was an attempt at referencing that the list firms should be included in the article. If that is true, then links should use referencing format which would clean up the article a lot.  The same thing would be true on the links to government web pages (anything with the "See" note).


 * The two sections of "Established" and "Emerging" also appears to be subjective. I think the two sections should be merged unless sources can be provided that establish two tiers of facilities. -- Gogo Dodo (talk) 04:22, 1 July 2012 (UTC)

The division is easy, was executing swaps ahead of the Dodd Frank Act vs. entering the business since then. Rick (talk) 16:08, 2 July 2012 (UTC)


 * I fixed a few of the entries to show what I mean. I changed all of the government links and the first two of the listings of the firms.  I would have fixed all of them, but my Internet connection is a bit slow right now and it makes editing a bit painful. -- Gogo Dodo (talk) 05:24, 1 July 2012 (UTC)

All the URL links are now fixed Rick (talk) 16:08, 2 July 2012 (UTC)

External links modified
Hello fellow Wikipedians,

I have just added archive links to 2 one external links on Swap Execution Facility. Please take a moment to review my edit. If necessary, add after the link to keep me from modifying it. Alternatively, you can add to keep me off the page altogether. I made the following changes:
 * Added archive http://web.archive.org/web/20100824062008/http://www.gfigroup.com:80/markets/credit/single-name-credit-default-swaps.aspx to http://www.gfigroup.com/markets/credit/single-name-credit-default-swaps.aspx
 * Added archive http://web.archive.org/web/20120526214218/https://www.theice.com/ice_trust.jhtml to https://www.theice.com/ice_trust.jhtml

When you have finished reviewing my changes, please set the checked parameter below to true to let others know.

Cheers.—cyberbot II  Talk to my owner :Online 08:34, 26 February 2016 (UTC)

Sentence makes no sense
The following sentence in the first paragraph makes no sense but not sure how to correct it.

The SEF-execution mandate responds to one of the four derivatives-related European Union, have proposed similar changes in swap market structure[6] but none have yet been adopted — Preceding unsigned comment added by 198.240.128.75 (talk) 09:11, 9 January 2019 (UTC)