Risk USA: Buy-side firms rail against European short-selling bans

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Buy-side firms vented their frustration with European short-selling rules on equities and credit default swaps (CDSs) at the Risk USA conference in New York earlier today, accusing regulators of changing their minds "on a whim" and making some products untradeable as a result.

Investment manager DE Shaw stopped trading sovereign CDSs two years ago, according to its chief risk officer, Peter Bernard - in part, because they were in the crosshairs of European authorities.

"When one finds oneself in

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