SEFCON Speakers Offer ''No Fix on the Horizon'' (Energy Metro Desk)

Listening to the various speakers at the sixth annual Swap Execution Facility Conference ("SEFCON VI"), Energy Metro Desk Editor in Chief John Sodergreen concluded that "there is no 'fix' on the horizon" for the uncertain status of swap execution facilities. Mr. Sodergreen asserted that the regulatory framework for swap trading designed by the CFTC "got it wrong, very wrong."

Mr. Sodergreen opined on several issues raised at the conference, including:

• the value of the Dodd-Frank Act to the financial trading markets;
• the CFTC's use of the no-action process to regulate the swaps markets;
• cross-border harmonization; and
• a proposal by CFTC Commissioner Sharon Y. Bowen for an "omnibus" self-regulatory organization ("SRO").

SEFCON VI was organized by the Wholesale Markets Brokers' Association, Americas ("WMBAA").