“If this revolution does indeed take place, my suggestion would be that CDS volumes and IRS volumes will go on a significantly accelerated growth period,” he said. “That would be a punt I would be pretty solid on.”
As the FT comments:
"...I am comments will surprise many who had assumed that the CDS market was unlikely to return to pre-crisis levels and that certain OTC derivatives had been discredited by the crisis. It will also raise eyebrows among some US lawmakers who may have assumed that current proposed sweeping reforms of the OTC markets would limit their growth..."
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