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Nick Gogerty » Comments » CME

  • Sticking Issues with Credit Default Swaps [View article]
    Just a thought experiment, but if all CDSs were put on a centralized exchange today even considering the notional amounts outstanding netted down to 10% of the $62 trillion figure that roughly $6.2 trillion, assuming an average of lets 25% of that for the average margins one still ends up with $1.6trillion in margin required that is still a lot of change to come up with.
    Oct 29 11:01 am |Rating: 0 0 |Link to Comment
  • Coming Soon: A Central Clearing House for Credit Derivatives [View article]
    The netting risk is significant. Let's hope the efforts at compressing exposures in a single netting facility happen soon enough. A major default or cluster of smaller defaults could cause significant liquidity pressures and recursive failures to deliver.
    Aug 03 09:45 am |Rating: 0 0 |Link to Comment
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