Curvalue purges futures traders as new owner focuses on equity

19 Jun 2006

More details emerged last week of the upheaval at trading firm Curvalue in London that has at least temporarily shed its futures outfit, which sources told FO Week could account for several dozeb traders (see FO...

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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.