OTC market will survive futurisation - Alliance Bernstein

Ability to customise hedges means swaps are still the best way to manage many exposures, conference told

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