The International Swaps and Derivatives Association’s eighteenth annual general meeting in Tokyo last month highlighted positive trends – such as the adoption of hedging by the majority of world’s largest corporates – but also a host of pressing problems – such as the contraction of Japanese derivatives markets, Basel II and credit derivatives, and the need for an industry response to legendary trader Warren Buffett’s criticisms.
Alarm at Buffett’s March “weapons of mass destruction” tirade w
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