So-called real money investors have "no incentive" to ditch over-the-counter derivatives in favour of swap futures unless they face serious collateral constraints, according to James Wallin, a senior vice-president at Alliance Bernstein.
Speaking at the Risk USA conference in New York, Wallin said he gets calls "all the time" about swap futures. He is not a fan, however.
"We've looked at these products. What it boils down to is that, unless you're capital constrained, there is no incentive to us