When the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) unveiled an $8 billion merger in October, it wasn't just rival exchanges that were nervous. The prospect of the world's biggest futures exchange - valued at around $25 billion - also did not go unnoticed in the over-the-counter derivatives market. Exchanges are slowly entering the OTC space - and, in the process, are encroaching on an area that has traditionally been the preserve of interdealer brokers.
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- Quantile, TriOptima face off in cleared swaps compression battle
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quants stymied by lack of alternative risk premia flows data