Thinking in Markets

S1E119 - When One Hedge Stops Paying Margin Twice


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Michelle and Vox unpack the SEC’s approval of customer cross-margining in the U.S. Treasury market. Listeners will understand why recognizing offsetting Treasury cash and futures positions can make hedged books cheaper to carry, why that supports liquidity and central clearing, and why the legal account structure still matters.

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Thinking in MarketsBy Vox