Buy side: central clearing 'a mess' as sell-side dialogue hits 'fever pitch'

Asset managers want to see futurisation of swaps get off the ground in Europe

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Central clearing is a "mess" as a result of the impact of the leverage ratio on clearing brokers, according to buy-side market participants, but in limited circumstances asset managers may consider clearing earlier than they have to.

These are some of the views expressed by three buy-side participants at a Eurex and Global Markets Exchange Group (Gmex) panel discussion held in London on September 30.

Russ Oxley, head of rates and liability-driven investment (LDI) at Old Mutual Investors, which p