Until I became an analyst I didn’t realize there was a conference “season” – but for those of you keeping track, the spring and fall are when most of the good events unfold. I’ll be speaking at a few this fall, the first few of which will be all about swap futures.
On September 19th in New York, Morgan Stanley and Eris Exchange are hosting at event for buy siders to dig a little deeper into the swap futures debate. (Morgan Stanley is a part owner of the exchange, hence the partnership). With clearing mandates behind us and SEF mandates (finally!) just in front of us, the time has come for the market to start deciding if and how swap futures will fit into their portfolios (see Eris volume chart, right). The panel they’ve put together is just awesome (BlackRock, DRW, Morgan Stanley, Eris), and I really excited for the opportunity to ask this small group of experts everything I ever wanted to know about the market. Some of the questions we plan to discuss:
It is common for firms to say “I am watching to see how liquidity develops.” What does that really mean?
Will traditional swap users who historically have never touched futures (like non-financial corporations) be motivated to migrate to swap futures?
Margin efficiencies of futures vs. swaps is a big part of conversation. How much does that really impact the decision on what to trade in practice?
If you’re a buy-sider and want to attend, please see the details and register here. And although we do have a pretty long list of topics for the panel, I’m open to suggestion, so please feel free to send ideas my way.
I’ll be moderating another panel on swap futures next week including others in the swap future game at the Fixed Income Forum’s OTC Derivatives Summit – but more on that later.