BusinessWeek – One in four hedge funds is already clearing over-the-counter derivative trades, up from none in October, before new rules require changes later this year to the $583 trillion market, according to analysts at UBS AG.
Most interest-rate, credit-default and other swaps bought and sold by money managers will be required to be processed by a clearinghouse later this year under new U.S. regulations. UBS analysts led by Alex Cram in New York surveyed money managers to gauge how they’re reacting to the changes, following an initial survey in October, they said in a note to clients yesterday.
