Wall Street Letter VOL. XLV, NO. 36 - December 2013

THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 36 DECEMBER 2013

www.wallstreetletter.com

IN THIS ISSUE
News People moves04
Feature Dissecting the issues15
Focus Fee chart16
Comment Benchmarking and maturity assessments18

MORE NEWS INSIDE

IPC answers demands
for mobile offerings
The vendor announced it had
integrated its Unigy Pulse Mobile
trading communications system
into ScottyD
TURN TO PAGE 05

Brownstone aims to
bolster bond coverage
Brownstone is looking to hire
corporate and municipal bond
market vets to add to its roster
TURN TO PAGE 08

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PLUS

15

Dissecting the
issues
WSL collects top quotes
on the big issues for
options exchange
executives who spoke at
last month’s FIA Expo in
Chicago

TOP STORY

Standard SEF
rules requested
BY JEANENE TIMBERLAKE

Some users of swap execution
facilities are demanding
more similarities among
SEF rulebooks, according to
comments during an early panel
discussion at SEFCON IV in
New York last month. SEF
executives on the same panel
noted they are in favor of some
standardization and also more
disclosure.
In response to a question
from Scott O’Malia, CFTC
commissioner and moderator of
the panel, on what the rulebooks
across the 21 SEFs in operation
should say regarding testing
standards, Sonali Theisen,

director of credit trading at
Citigroup, said it’s understandable
that all the rules across all SEFs
won’t be the same.
But Theisen noted the
rulebooks should be required
to have certain elements in
common, specifically related to
elements that are required under
CFTC core principles. For
example, she noted technology
and testing standards should be
disclosed.
“It is our view that it should
be the first metric by which
we judge whether or not we’d
like to participate,” she
TURN
said, referring to the
TO
PAGE
technology and testing
standard.
03

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