ETFs as part of the credit liquidity story

ETFs as part of the credit liquidity story

Liquidity in the corporate bond market is tough.  We’ve written about it time and time again.  At a high level we see two solutions.  One,…

SEF volumes died last week – so when and where will they return?

SEF volumes died last week – so when and where will they return?

Turned out the first week of mandatory SEF trading was a Big Bang, just in the wrong direction.  Reported SEF volumes for interest rate swaps…

New Greenwich Report: As Credit Market Liquidity Suffers, Institutional Investors Seek Alternatives

New Greenwich Report: As Credit Market Liquidity Suffers, Institutional Investors Seek Alternatives

This is my first official research piece since joining Greenwich Associates this past summer.  It is available to Greenwich clients.  If you’re not sure if…

The Economist: Not with a Bang

The Economist: Not with a Bang

I talked to an Economist reporter based in Paris on Wednesday (October 2) about what the first day of SEF trading means to the market.…

Swap Execution Facility Trading Volumes: Here are the Real Numbers

Swap Execution Facility Trading Volumes: Here are the Real Numbers

There are some really good parts of the SEF rule, and this in my view is one of the best: Core Principle 9 requires a…

A (Greek) Default By Any Other Name

Back in October I wrote about the impact of an impeding Greek default on the CDS market. I concluded that in the shadow of Dodd-Frank,…

UBS Launches New E-Trading Platform For Credit-Default Swaps (WSJ)

I’ve written quite a bit about the fate of single dealer portals (SDP) and SEF aggregation. UBS has finally come forward with what its been…

Will poor corporate bond liquidity drive the market to CDS?

This is another segment from our Fixed Income Trading 2012 event on January 24th.  My panel discusses the impact of the Volcker rule on the…

Futures On Credit-Default Swaps Seen As Natural Evolution (Wall Street Journal)

If Congress really had its way (well, the Democrats anyway) than all swaps would have been forced to look and trade like futures. If you’re…

The Impacts of Volcker on the Corporate Bond Market

I recently spoke with Rashad Kurbanov who is a Managing Director at consulting firm Investance in NY.  We had an interesting discussion about how the…