Custom index TRS booms at BlackRock
Isda AGM: Bespoke total return swaps span all mandate types but e-trading bottlenecks remain
BlackRock is expanding its use of total return swaps (TRS) on custom indexes, and is now addressing operational challenges around liquidity, documentation and execution to scale trading in the instruments.
“We’ve had a significant increase in utilisation of TRS on custom indices,” said Jenny Xiao, global head of rates trading and systematic execution at BlackRock.
“We obviously trade a ton of
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