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The following data is derived from trading activity on the Tradeweb European-listed ETF platform.

We are proud to announce that Tradeweb has been named Best Swap Execution Facility as part of the Sell-Side Technology Awards 2015.

In testimony regarding the President’s request for the Commodity Futures Trading Commission’s budget for the 2016 fiscal year, Chairman Timothy Massad spoke before the U.S. Senate Committee on Appropriations, the Subcommittee on Financial Services and General Government in Washington DC.

A veteran of Wall Street, Commissioner Chris Giancarlo of the Commodity Futures Trading Commission recently issued a statement regarding the ongoing debate over the future of reform following comments made by CFTC Chairman Timothy Massad on the future of swaps market regulation. Commissioner Giancarlo stated:

Intensifying regulatory demands are forcing financial institutions to streamline application portfolios, standardize and normalize data more effectively, and ensure the rapid integration and sharing of data across systems.

All of the world’s swap regulators recognize that reporting is a mess. And while the SEC’s final rule on Swap Data Repositories does not mandate SDRs monitor reporting data quality, there are signs that such monitoring may be in the offing. But don’t bet on the SEC getting the rules right.

Global regulators have missed a golden opportunity to shed light on the opaque swaps market.

In a recent letter, the European Commission outlined its intention to endorse ESMA’s draft regulatory technical standards (RTS), which set out which interest rate swaps will be subject to mandatory clearing under EMIR.

Recent rule changes by the CFTC indicate that the Commission has largely crossed the goal line with respect to OTC reform and is now in the process of ‘fine-tuning’ regulatory requirements in the US. Cross-border harmonization, however, remains a critical challenge.

The maturation of SEFs, the evolution of regulations in Europe in Asia, economic recovery, central bank policy and oil all are among the trends and themes that defined the global fixed income markets in 2014.