Goldman and the OIS gold rush: How fortunes were made from a discounting change

Goldman and the OIS gold rush


"They rang everyone on the Street with this one,” says one head of swaps trading at an Asian bank, recalling how his firm was repeatedly asked by Goldman Sachs to step into a package of swap trades in 2008. The trades in question were two cross-currency swaps in the same currency pair – one would be out of the money for the new counterparty, while the other was flat. Goldman was offering to pay around $200 million to the bank to step in – money that would immediately be posted back to the US ban

To continue reading...

You need to sign in to use this feature. If you don’t have a 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 indvidual account here: