AEGIS SEF has released information about its Dealer partners and the trading activity in the first three months of 2023.
AEGIS SEF has partnered with 18 Dealers and over 300 commercial customers to create hedging transactions. Each Dealer and Participant has officially agreed to the terms and conditions necessary for hedging transactions to take place.
President of AEGIS SEF, Justin McCrann, said:
As transaction volume grows, we are seeing an increase in Dealer interest to execute transactions on our hedging marketplace. To meet demand for an efficient, compliant solution that can facilitate swaps between Dealers and Participants, we will begin executing other underlying products in the near future, including bilateral interest rate swaps.
March set new records for the number of trades, products, and participants. The number of trades increased by 60% from the previous month and 224% from the previous quarter.
Each day and week during the month also saw record volumes as people tried to make sense of the turbulent energy and metals markets.
Chief Compliance Officer of AEGIS SEF, Andrew Furman, said:
Creating and registering as a SEF was never on our radar. Our desire to create a hedging marketplace opened a larger discussion on the regulatory requirements for Commodity Trading Advisors (sometimes referred to as hedge advisors). We hope sharing what we’ve learned will prove insightful for others who are required to travel the same path.
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