Let swap platforms trade futures – Icap’s Spencer

Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies

Michael Spencer, chief executive at Icap Group

Open access and margin rules that apply to over-the-counter derivatives markets should be applied to futures trading as well, according to Michael Spencer, group chief executive for interdealer broker Icap - who argues the current uneven playing field is particularly problematic now that futures exchanges are offering swap futures contracts that promise to mimic the economics of an OTC swap.

Futures exchanges require contracts they list to be handled by their own clearing houses - a so-called

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


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

This address will be used to create your account

Most read articles loading...

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