Swap Execution Facilities (SEFs)

Definition:

A Swap Execution Facility is an electronic trading system to bring greater efficiency and transparency in the swaps market. Dodd-Frank Act, which was signed by President Obama in July 2010 included a requirement that any participant providing electronic markets for trading interest rate swaps will need to register as a Swap Execution Facility.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Performance shares

Shares of stock paid out to managers only if the company makes certain sales, earnings per share, or other similar criteria.

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