Dealers face New Year hangover

Derivatives processing


During the next few weeks, millions of people will venture towards 2006 with honourable intentions to enact bold and sometimes hastily conceived New Year's resolutions. For many, the tradition is a well-travelled path paved with broken promises to exercise more, lose weight, stop smoking, cut down on alcohol, eat a healthier diet or make new friends.

In early October, 14 of the major dealers in the credit derivatives industry, including JPMorgan, Goldman Sachs, Deutsche Bank, Morgan Sta

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