Three-and-a-half months into the life of Ice's new index credit default swap (CDS) contract, critics are already casting it as the latest in a series of failed attempts to ape one of the over-the-counter market's big success stories.
"There is absolutely no need for index CDS futures. We've never traded it; we have no intention of trading it; and we don't feel the need for it at all," says the New York-based head of investor relations for one hedge fund.
Supporters of the product say these comme
The week on Risk.net, March 10-16 2018Receive this by email