I know it’s way too early to really start picking winners and losers in the current credit carnage, but let’s at least start thinking about it. After all, one day this war will end.
One quick candidate: CME. We are about to see a plethora of OTC products become centrally cleared and traded, volatility is the rule of the land, and commodities are more important than ever. Who stands to benefit more than CME? As today’s release on a new CME/Citadel CDS clearing mechanism shows, the company is pushing forward quickly into the other side of this crisis.
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