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Swaps Shift Sees Quiet Start

Most investment firms wait to use swap execution facilities, Tabb says.

By Matthew Leising, Bloomberg | Updated on October 04, 2013

Most money managers that use swaps didn’t trade on new government-mandated platforms yesterday because use of the systems remains voluntary, according to a poll conducted by Tabb Group LLC.

The Boston-based researcher and consultant asked 36 investment firms that collectively manage more than $6 trillion if they used swap-execution facilities yesterday, when the U.S. Commodity Futures Trading Commission required the venues to open, according to a report. Seventy-seven percent said they didn’t use a SEF, 14 percent said they did, and 9 percent said they only sent test trades, Tabb said.

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