Sef-traded NDFs grow, but less than 20% of overall flows
NDFs traded on-Sef rose 20% in March – FIA
Non-deliverable forward (NDF) volumes on swap execution facilities (Sefs) hit record highs in March, but still represent only a fraction of overall global turnover in these contracts as the regulatory process remains beset with delays.
In March, on average, $21 billion of NDFs was traded on-Sef daily, the majority taking place on interdealer-broker operated venues, which continue to dominate the space. Dealer-to-client venues, such as Bloomberg, Thomson Reuters and 360T, currently account for
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