159: Greg Newman – Bringing Stoicism to Trading—and Market Making in Oil Derivatives
Chat With Traders
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What Are the OTC Futures Markets?
The key difference, I would say immediately is these, they're actually swapped. We call them swaps, but they got redefined as futures a while back. But essentially the idea is they price out their contracts with price out daily and they can basically specify whatever pricing mechanism you want. So for instance, again, going back to Brent, that's the value of the OTC future market in dated Brent and the actual North Sea physical.
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