Abrams, who started out with Goldman Sachs researching derivative trading strategies and later worked at Credit Suisse and then Merrill Lynch as co-head of US equity derivative trading, founded Titan Capital Group in 2001.
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Lately it has been working on a futures product that would let clients hedge their real estate risk and a derivative for trading in biodiesel futures.
Hopefully, it will put a final nail in the unregulated trading of derivative contracts with the use of borrowed money.
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But getting OTC derivative markets to use trading platforms is harder than getting them to clear: anything traded on an exchange can be cleared, but the converse is not true.
ECONOMIST: Derivatives: Over the counter, out of sight | The
Perhaps it is because the average investor has more experience trading stocks or because options are a derivative product, but the worry about who you are trading with becomes even more pronounced here.
The venture between the two Chicago firms is meant to launch within 30 days and would provide a fully integrated trading and clearing platform for the complex derivative contracts that have been one of the flash points of the credit crisis.
It addresses proprietary trading of all kinds of financial instruments, including derivative instruments.
The venture between the two Chicago firms is meant to launch within 30 days and would provide a fully integrated trading and clearing platform for credit default swaps, the complex derivative contracts that have been one of the flash points of the credit crisis.
Paul Chrispin of Principal Search, a recruitment firm, reckons that physical trading firms like Noble and Vitol have been on a recruitment drive among banks' derivative traders.
ECONOMIST: Derivatives: Over the counter, out of sight | The
As Citigroup faces another massive quarterly write-down of credit derivative assets, questions remain about other banks' exposures, and when the crisis goes from a trading book issue into an industrywide credit quality problem.
Under the Dodd-Frank legislation, the Commodity Futures Trading Commission is writing legislation that will move these so-called over-the-counter derivative trades to exchanges that use central counterparty clearing.
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