WMBAA Announces Record-Breaking SEFCON IV Conference

New York, November 20, 2013 — The Wholesale Markets Brokers’ Association, Americas (WMBAA), an independent industry body representing the largest wholesale and inter-dealer brokers in North America, announced today that SEFCON IV, the Association’s fourth annual conference, which took place at the Grand Hyatt Hotel in New York City on Monday, November 18, 2013, was a successful event, bringing together some of the industry’s most distinguished experts.

SEFCON IV examined the role of the newly-implemented Swap Execution Facility (SEF) regulations under Title VII of the Dodd-Frank Act, and highlighted such issues as SEF Technology, Cross Border application of the rules and Market Structure.

Highlights of the conference included Chairman of the U.S. Commodity Futures Trading Commission, Gary Gensler’s keynote address. Mr. Gensler highlighted the latest regulations and their effect on Swap Execution Facility (SEF) trading. He commented: “The playing field has been leveled through transparency, impartial access, central clearing and straight-through processing. Asset managers, pension funds, insurance companies, community banks and all market participants are gaining benefits that until recently only swap dealers had.”

Christopher Ferreri, Managing Director, Head of e-Commerce Americas at ICAP and SEFCON IV Conference Chair said: “SEFCON IV was a record event, with more attendees and speakers than ever before, which goes to show the importance and timeliness of these issues in our industry. I’d like to thank everyone who was involved with making this year’s event a success, including Chairman Gensler, Commissioner Scott O’Malia, Congressman Jim Himes, our many speakers and sponsors, and of course the attendees.”

“I am delighted that SEFCON IV was such a success. This year’s conference came at a crucial time for market participants when the new SEF rules are changing the swap trading process and each SEF has positioned itself to meet the demands of the marketplace,” said Shawn Bernardo, Chairman of the WMBAA and CEO of Tullett Prebon’s SEF.

Continuing, he said, “We had an insightful and diverse group of speakers who provided the industry with a range of interesting perspectives relating to how the market could look in 2014.”

The Fourth Annual Swap Execution Facility Conference is a day-long event which brings together leading policy makers, regulators, legislators, and the financial trading marketplace. The event is hosted by the Wholesale Markets Brokers’ Association (WMBA, Americas), www.wmbaa.org, an independent industry body representing the largest inter-dealer brokers (IDBs) operating in the North American wholesale markets.

For media inquiries, please contact: media@wmbaa.org.

Wholesale Markets Brokers’ Association, Americas
The Wholesale Markets Brokers’ Association, Americas (WMBAA) is an independent industry body representing the largest inter-dealer brokers (IDBs) operating in the North American wholesale markets across a broad range of financial products. The five founding members of the group are: BGC Partners; GFI Group; ICAP; Tradition; and Tullett Prebon. The association seeks to promote the quality and standards of the industry and the critical role played by wholesale brokers in the efficient functioning of financial markets, working with key public policymakers on regulation and oversight of over-the-counter (OTC) markets and their participants. For more information, please go to www.wmbaa.org.