099: Brynne Kelly – What Happens on a Merchant Trading Desk—with an Energy Veteran
Chat With Traders
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The Future of Bilateral Contracts
When you hit a bid or lifted an offer, you were given the counter parties name that you were done with. There was no margining on these contracts. So there was just really a netting of purchasing and sales. And even in the very beginning days of, like, for example, intercontinental exchange, your trade ticket revealed to you who your counterparty was.
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