Swaps Overhaul: Ready or Not, Here It comes

jr-lowry-state-street
JR Lowry, senior vice president of State Street Global Services

Few long highways stretch forever, unbroken, from origin to destination. There are breaks in the journey, milestones to tell weary travelers how far they’ve come and how far they have yet to go. Medieval Europe had its crossroads; we have our cities.

The swaps trading community passed one of those milestones on October 12, when dealers, under the aegis of the US Commodity Futures Trading Commission (CFTC), had to begin tallying their derivatives trades to determine whether they qualify as swap

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