In 2009, it sued a hedge fund portfolio manager and a Deutsche Bank bond salesman for a transaction in a credit default swap based on confidential information related to changes in the structure of a bond offering by a Dutch company.
The fact remains, however, if DPS wants to get out of the swap based on current market conditions, it will cost taxpayers $81 million, all of which will go to JP Morgan, Bank of America, and the Royal Bank of Canada.
But we might be inviting abuse, regulatory gaming and arbitrage if we have one set of rules for trading stocks and options, another for futures, and, say, one for swaps based on nine or fewer securities and yet another for swaps based on 10 or more securities.
(b) Once a covered swap entity and its counterparty must comply with the margin requirements for uncleared swaps based on the compliance dates in paragraph (a) of this section, the covered swap entity and its counterparty shall remain subject to the requirements of §§ 23.150 through 23.161 with respect to that counterparty.
The European Union plans come after Timothy F. Geithner, the United States Treasury secretary, sent a proposal to Congressional leaders laying out his plan to police over-the-counter derivatives trading, the unregulated market where swaps based on interest rates, currencies, commodities and a company's ability to pay back debt are exchanged.
We introduce an implementation of this approach in the context-based caching (CbC) technique in which knowledge items are swapped based on precompiled relations between knowledge items.
No one gets multimillion-dollar bonuses for selling credit default swaps based on which securities might fail.
The Obama administration has called for a peace deal in which Israel and Palestine would adopt the pre-war 1967 borders, with mutually agreed land swaps based on changing circumstances since then.
The Dodd-Frank law, by the way, requires more disclosure of trades in all kinds of swaps, including swaps based on mortgage-backed securities, and those disclosures are starting to appear as the Commodity Futures Trading Commission writes rules.
Instead of selling Treasurys to hedge corporate securities, banks and brokers used derivative contracts, called swaps, based on the rates that banks charge each other.
