Espeed results hit by litigation costs

15 Aug 2005

ISV Espeed has reported a net loss of $1.46m for the second quarter, falling from a profit of $9.04m in the same period in 2004. The firm also provided non-generally...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.