“Utility is success,” Thomas Edison once claimed, arguing he wasn’t motivated to invent things that didn’t sell well: if no-one used them, what was the point?
Firms with competing visions of a more robust post-trade architecture for futures and options might bear this in mind. Market participants think standardizing trade allocations could prevent a repeat of the chaos that resulted from the thousands of trade breaks witnessed during last year’s Covid volatility, with many calling for a new
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