Buy side held back by confusion on cross-trading swaps
Asset managers could realise significant cost savings by internalising some of their swaps flow, but CFTC rules prevent them from doing so
Homeowners fed up with high-priced contractors that do low-quality work often take a do-it-yourself approach to home improvement. Asset managers, it seems, are no different.
As dealers retreat from trading over-the-counter products, and charge more for the trades they do, some on the buy side are trying to create their own liquidity through internalisation – essentially intermediating trades in
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