The US buyside is avoiding trading on new platforms for over-the-counter derivatives, according to a study released today, as many adopt a wait-and-see approach to swaps market reforms enacted under the Dodd-Frank Act.

Consultancy Tabb Group surveyed firms managing a total of $13.7 trillion in assets and found that almost 80% of US buyside firms avoided the platforms, known as swap execution facilities, on the first day they were introduced.