It’s not easy being a single–dealer platform in the post–crisis swap markets. Each one represents years of work and tens of millions of dollars of investment, to achieve something that is being regulated out of existence. In Europe and the US, rules demand that a big chunk of the over-the-counter derivatives market be executed on venues where any number of market-makers can participate – for these products, funnelling clients towards your own trading desks is no longer allowed.
To replace this l
The week on Risk.net, March 10-16 2018Receive this by email