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NYSE Liffe, the US futures exchange of NYSE Euronext, has appointed Karl Cooper as chief regulatory officer.
He reports to Richard Ketchum, CEO of NYSE Regulation, and Thomas Callahan, head of US futures....
“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.