FX Week Asia: Sefs and OTFs may be unworkable for NDF market

Bruno Lettich at Standard Chartered
Bruno Lettich, Standard Chartered

The regulatory requirement to trade standardised over-the-counter derivatives on multibank electronic trading platforms – swap execution facilities (Sefs) in the US and organised trading facilities (OTFs) in Europe – could have an adverse effect on liquidity in non-deliverable forwards (NDFs), market participants have warned.

Speaking at the FX Week Asia conference in Singapore earlier this week, panellists noted that Asia looks unlikely to implement the G-20 requirement on electronic trading pl