Hubs will not fix clearing certainty issue, critics claim

Regulatory uncertainty

Despite the launch of two new credit-checking services, critics claim the over-the-counter derivatives industry has still not found a way of providing certainty at the time a swap is executed that it will be accepted for clearing. Banks and trading platforms are already signing up to use the services, but some have misgivings about whether these so-called hubs, run by Markit and Traiana, will work as planned.

When the first swap execution facilities (Sefs) open for business in the US – which cou

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