CCP scrutiny intensifies in wake of Nasdaq blow-up
Experts in the derivatives clearing market have been debating numerous elements of the default management process of Nasdaq Clearing, after a clearing member blew a €114m hole in the institution following a bad trade last week. Costas Mourselas reports.
"How in this day and age does something like this still happen?" said a former senior clearing executive at a bulge bracket bank, looking back at last week's events.Einar Aas, a Norwegian power trader, had put on a position that made money if the spreads between Norwegian and ...
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