Unconfirmed trades 'appalling' - Greenspan

Alan Greenspan, former chairman of the US Federal Reserve Board, says he found it "appalling" that banks were trading credit default swaps (CDSs) without automated settlement processes. Speaking at the Bond Market Association's thirtieth anniversary dinner in New York on May 18, he expressed dismay that a backlog in unconfirmed trades could occur in a technically advanced industry.

"The difficulty is that while this is an extraordinary business, I was shocked and surprised that we were confro

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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: