NDF traders face up to Sef reality
Non-deliverable forward (NDF) traders are preparing for a transition to electronic platforms, as US regulators edge closer to finalising the new regime for mandated trading of over-the-counter derivatives on swap execution facilities (Sefs). Traders remain concerned, however, that the move may affect liquidity in the relatively low-volume NDF market.
The likelihood that NDFs would be moved to Sefs has been evident for some time, but the Commodity Futures Trading Commission is now widely expected
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