FX Markets

Tullett Prebon wins forwards prize for 11th year running

The broker comes top of the pile yet again

    • Michael Watt
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As melodramas go, the dispute between US and European regulators over an equivalency system for swap execution facilities (Sef) had it all – inter-continental spats, mind-bending complexity, bemused onlookers and frustrated market participants.

FX brokerages had a ringside seat as the issue waxed and waned during the first half of the year. Many had designs on offering Sef-like liquidity to US clients in Europe, but found the gulf between the Commodity Futures Trading Commission's (CFTC) Sef

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