Tag Archives: Europe Flattened

John Ward – Small Miscalculation In Derivatives Market, Europe Flattened, Not Many Dead – 20 December 2013

chrissytowelStill in shock, Christine Lagarde lets a selfie fall from her grasp

World exclusive: terminology table revealed for first time, seen to have no legs

As Ben the Banker lit his blue touch taper this week to the tune of 10 billion bucks, on the same day, slightly higher numbers were being tossed about with recklessly quiet abandon by the Commodity Futures Trading Commission (CFTC).  It announced casually that technical errors (known on the eurovision side of the Pond as ‘glitches’) at two swaps data repositories, which collect and supply regulators with transaction data, had caused the CFTC to under-report the size of the swaps market. By a trifling $55 trillion. Continue reading