除了通过透明度不高的场外大宗商品掉期市场为客户处理大笔交易之外，银行本身也是大型大宗商品交易商。
Besides handling large volumes of trades for clients via the opaque over-the-counter commodity-swaps markets, they are also large commodity traders in their own right.
但鉴于场外掉期市场上的交易也很普遍，很难明确知道某一天交易员的头寸数。
But given the prevalence of trading on the vast over-the-counter swaps markets, it is difficult to get a one-day fix on traders' positions.
集中交易对手在交易市场中很常见，但在热度高涨的衍生品场外交易市场中却十分罕有，尤其是在信用违约掉期的巨大市场中更是如此(见表)。
CCPs are the norm in exchange-based markets but they have been scarce among surging over-the-counter (OTC) derivatives, notably the gigantic market for credit-default swaps (see chart).
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