Exchange chief defends use of derivatives



The head of the Chicago Mercantile Exchange has defended exchange-traded derivatives as being of 'overwhelming value' allowing market participants to spread and mitigate risk.


However, Leo Melamed, speaking at the FOW futures and derivatives conference in London in June, drew a distinction between exchange-traded derivatives ' with 'disclosure and transparency the hallmarks of their transaction and clearing mechanisms' ' and over-the-counter, exotic products where 'mark-to-modeling¦ offers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here