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“We will look back at the old system and wonder how we ever put up with it” |
The platform, which enables trading of large portfolios of single-name CDS, was enthusiastically presented early last month as a solution to the growing logistical problems of the burgeoning credit derivatives market. “Volumes have been growing in the credit derivatives market at a rate of 50% a year,” says Derek Smith, head of flow credit trading for Deutsche Bank.
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