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Bursa Malaysia has introduced direct market access (DMA) for its derivatives market. The exchange said that the launch is “in line with the exchange’s efforts...
“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.