IL MERCATO DEI CDS MUORE..TUTTI PASSANO SUI FUTURES...
LA GRECIA CROLLA , MA NON FA PIU' PAURA AI MERCATI EUROPEI CHE IERI CHIUDONO AMPIAMENTE POSITIVI (festeggiano in anticipo Obama, I DATI USA..e in italia le parole di Berlusconi che afferma che non si mettera' contro Monti)
Government futures boom on CDS ban
Soaring volumes in European government bond futures have exposed a flaw in EU regulation designed to halt speculators from driving up funding costs in the periphery by shorting government debt.
A ban on “naked” short positions in European sovereign credit default swaps is set to come into force today, causing many participants to steer away from the sovereign CDS market to hedge or take views on the eurozone.
But far from being prevented from shorting vulnerable sovereigns, investors have found a simple way to skirt around the rules by shifting positions into exchange-traded government bond futures that are not subject to the new regulation.
AVETE CAPITO BENISSIMO....I GOVERNI BLOCCANO LA VENDITA DEI CDS SULL'ITALIA MA SUL MERCATO DEI FUTURES DEI TITOLI DI STATO SI PUO' ANDARE SHORT COME E QUANDO SI VUOLE SENZA LIMITI...
Open interest in Eurex-listed Italian BTP futures has almost doubled since the announcement of the ban back in March, from 32,271 to a new peak of 62,489.
INFATTI L'OPER INTEREST SUI BTP ITALIANI E' QUASI RADDOPPIATO, PER NON PARLARE DEI FUTURES FRANCESI...
Volumes in OAT futures have rocketed even more sharply with open interest reaching a high of 146,923 on October 24 despite the contracts only launching in April.
“The growth in futures volumes is unbelievable,” said one senior credit trader. “The same short interest still exists – economically it’s identical. If you thought the short interest was hurting the market then it makes no sense to say cleared derivatives are good and OTC derivatives are bad.”
MA QUESTO GOVERNO EUROPEO E' IL GOVERNO DELLE IDIOZIE...
Dealers have expressed concern that the EU ban could severely damage the sovereign CDS market, which is viewed by many as supportive of government bond markets. Volumes have already tumbled, with the net notional in EU CDS dropping from a peak of just under USD140bn net notional outstanding in mid-2011 to around USD112bn currently.
I VOLUMI SUL MERCATO DEI CDS INTANTO SONO CROLLATI....(QUELLO CHE ACCADRA' PRESTO CON L'INTRODUZIONE DELLA TOBIN TAX..)
A ONOR DEL VERO...IL MERCATO DEI FUTURES E' UN MERCATO REGOLAMENTATO...IL CHE PERMETTE AI GOVERNI DI ALZARE QUANDO VOGLIONO I MARGINI SUI FUTURES..CONTROLLANDO DI FATTO IL MERCATO STESSO SENZA SOLDI...
UN GOVERNO SENZA SOLDI CERCA DI MANIPOLARE IL MERCATO...sicuramente per un po' ci riesce...ma poi...
Government futures boom on CDS ban
Soaring volumes in European government bond futures have exposed a flaw in EU regulation designed to halt speculators from driving up funding costs in the periphery by shorting government debt.
A ban on “naked” short positions in European sovereign credit default swaps is set to come into force today, causing many participants to steer away from the sovereign CDS market to hedge or take views on the eurozone.
But far from being prevented from shorting vulnerable sovereigns, investors have found a simple way to skirt around the rules by shifting positions into exchange-traded government bond futures that are not subject to the new regulation.
AVETE CAPITO BENISSIMO....I GOVERNI BLOCCANO LA VENDITA DEI CDS SULL'ITALIA MA SUL MERCATO DEI FUTURES DEI TITOLI DI STATO SI PUO' ANDARE SHORT COME E QUANDO SI VUOLE SENZA LIMITI...
Open interest in Eurex-listed Italian BTP futures has almost doubled since the announcement of the ban back in March, from 32,271 to a new peak of 62,489.
INFATTI L'OPER INTEREST SUI BTP ITALIANI E' QUASI RADDOPPIATO, PER NON PARLARE DEI FUTURES FRANCESI...
Volumes in OAT futures have rocketed even more sharply with open interest reaching a high of 146,923 on October 24 despite the contracts only launching in April.
“The growth in futures volumes is unbelievable,” said one senior credit trader. “The same short interest still exists – economically it’s identical. If you thought the short interest was hurting the market then it makes no sense to say cleared derivatives are good and OTC derivatives are bad.”
MA QUESTO GOVERNO EUROPEO E' IL GOVERNO DELLE IDIOZIE...
Dealers have expressed concern that the EU ban could severely damage the sovereign CDS market, which is viewed by many as supportive of government bond markets. Volumes have already tumbled, with the net notional in EU CDS dropping from a peak of just under USD140bn net notional outstanding in mid-2011 to around USD112bn currently.
I VOLUMI SUL MERCATO DEI CDS INTANTO SONO CROLLATI....(QUELLO CHE ACCADRA' PRESTO CON L'INTRODUZIONE DELLA TOBIN TAX..)
A ONOR DEL VERO...IL MERCATO DEI FUTURES E' UN MERCATO REGOLAMENTATO...IL CHE PERMETTE AI GOVERNI DI ALZARE QUANDO VOGLIONO I MARGINI SUI FUTURES..CONTROLLANDO DI FATTO IL MERCATO STESSO SENZA SOLDI...
UN GOVERNO SENZA SOLDI CERCA DI MANIPOLARE IL MERCATO...sicuramente per un po' ci riesce...ma poi...
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