Despite their lacklustre start, single stock futures are
still at the heart of some of the burning issues in the
industry. More than any other product, they illustrate the
convergence of the cash and derivative products, and the thorny
issues that convergence throws up in the US.
The issues raised by SSFs were so problematic that, rather
than tackle them, the US regulators chose to set them to one
side. And there they stayed, for 18 long years. When the will
was mustered to confront the situation, the compromise reached
between CFTC and SEC was a fudge, and has largely been
responsible for the failure of SSFs to set the world alight in
the way that many in the industry were convinced they
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.