monk

Coming Soon: A Central Clearing House for Credit Derivatives

need?? Investors:: refer to the group of investment banks that are threatening to start from scratch an operation (exchange) to clear the $ trillions notional amount, OTC transactions (currently not exchange traded - a real mess!) via a 3rd party - arms length "exchange" - thus making OTC trades more transparent (consistent settlement days, pricing monitored by a 3rd party - etc,) Problem is these "investors" (investment banks) have no domain expertise and have proven time and time again that the SRO's responsible for policing investment banking services somehow get in bead with the investment banks and the next thing you know the exchange looks like a fraternity party.