June 29, 2023
The market needs 100% reporting on swaps. There is no downside to more visibility on trades of this nature in the eyes of the market.
Consider that:
-Swaps are used in nefarious ways by large market players (think Bill Hwang)
-There are known criminals operating as large market players (think Steve Cohen and Ken Griffin although Citadel has \"not admitted guilt\" on hundreds of counts)
It therefore seems like lunacy to not require 100% reporting of swaps.
Keep this in mind when reading comments submitted by the known criminals of the market.