OTC market will survive futurisation - Alliance Bernstein

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Futures will not replace over-the-counter swaps as the hedging instrument of choice for all buy-side firms, according to participants at a conference organised by the Association for Financial Markets in Europe in London yesterday – in large part because standardised futures contracts remain a blunt risk management tool. "There's obviously a reason the rates swap market emerged – it allows very specific contract terms. We don't see the futures market replacing that," said James Wa