Days of Futures Past Episode 6 | Dan McElduff and Joe Raia, Abaxx Exchange
SmarterMarkets™
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The Evolution of Clear Swaps
After the financial crisis, Dodd-Frank came about and there was more focus on clear swaps versus in the markets. CME looked at building or buying a swap execution facility but felt that futures were a better credit or risk mitigation tool than swaps themselves. We also saw a shift in other markets and commodities in European markets that were traditionally bilateral moving into a clear environment. That helped us again build more liquidity, more open interest in other products.
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