Mandatory exchange trading for swaps - .PDF file.
By Byungkwon Lim, Emilie T Hsu and Aaron J Levy
Beginning early next year, market participants may be required to execute certain interest rate swaps and credit default swaps on a designated contract market (DCM) or swap execution facility (SEF), rather than entering into such swaps over the counter. This trade execution requirement does not apply to a swap entered into by a non-financial entity end user for hedging or other risk mitigation purposes…
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