Paper finds positive impact from Dodd-Frank swap rules
Authors find 'substantial' reduction in costs following regulation
Rules in the US's Dodd-Frank Act that require certain swap contracts to be traded on 'swap execution facilities' (Sefs) has added to liquidity and cut costs for market participants, research published on January 15 by the Bank of England (BoE) finds.
In the working paper Centralized trading, transparency and interest rate swap market liquidity, Evangelos Benos, Richard Payne and Michalis Vasios study "plain vanilla" interest rate swaps in US dollars and euros to gauge the impact of the Dodd
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