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Interdealer broker Tullett Prebon has launched a new over-the-counter brokerage firm in Japan for equity derivatives.
The firm’s entry follows proposals by the Japanese Financial Services Agency on December 17 that all standard OTC derivatives...
“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”
European consultants predict frantic lobbying during the Mifid review.