Swaps: Pre-trade Transparency & Post Trade workflows


Two posts grabbed my attention today, worth reading.

Pre-trade Transparency: Kevin McPartland from Tabb Forum tackles the subtleties of mandating pre-trade transparency for the more illiquid segments of the swaps market (or any other market for that matter) – liquidity and transparency in such markets tend to be inversely related, the more transparency the less ‘real liquidity’! (full article here – it’s free, but requires registration, strongly recommend subscribing to daily email digest)

Trade Workflows post Dodd Frank: Ben Wolkowitz, and Vinod Jain from Headstrong, provide an overview (with good diagrams) of the full trade workflow for Swaps that would apply under Dodd Frank, in both cleared products on a SEF, and non-cleared products voice or SDP ( link here it’s Bob’s guide, again free, but may require registration)