lionel gibert, head of credit/loans trading, Société Générale, london
Exchange-traded futures can add value to the credit business and therefore be a success. To bring value, the exchange-traded futures should be quoted constantly with spread and size similar to the OTC (over-the-counter) market. This implies an active participation from the sell-side community.
Exchanges will have to convince the market-makers that it is in their interest to participate in the launch of the product. A simple