SWAP EXECUTION FACILITIES: TAKING THE NEXT STEP.

GreySpark Partners presents a report exploring the emerging SEF landscape, giving insight into recent SEF aggregation requirements and developments. Though some participants are making preparations for the advent of a new trading landscape, the general pace of change is sluggish and haphazard. SEF aggregators are both pertinent and imminent as banks are required to connect with SEFs, and their clients, in turn, will request multiple connections. This report lays out the functional requirements for a reference SEF aggregator solution.