Brokers face an increasingly uncertain future. During the past decade, the steady migration from voice-brokered over-the-counter markets to hybrid electronic execution has transformed their business models. Now, a trend away from bilateral OTC markets towards central execution and clearing poses another big challenge.
In the US, provisions of the Dodd-Frank Act pushed much of the cleared OTC energy derivatives market towards exchanges in October 2012 – a phenomenon dubbed futurisation. There is
The week on Risk.net, July 14–20, 2017Receive this by email