The advent of clearing and electronic swaps venues will affect bank earnings
Central trading and clearing of swaps are set to have a
detrimental effect on derivatives revenue at the
world’s biggest banks, according to a study.
Consultancy firm McKinsey predicts annual dealing revenue
from interest rate derivatives for banks in the G10 countries
could fall by up to $4.5bn, which is a third of the $13bn banks
make from derivatives trading.
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