Agency trading services have made little headway on new swaps platforms over the past year, according to a US strategy specialist at one of the venues. Uptake of the services has been seen as a test of the buy side's willingness to embrace new ways of trading in the over-the-counter market, including the use of central limit order books (Clobs).
"A year ago there was a lot of interest in agency access where a customer would access a Sef through a dealer market-making entity and we onboarded a nu
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