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 confronted

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

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 individual account here: