Disliked{quote} I'm taking lots of immune booster now, in case I get the virus but I'm not seeking it out. Ski season is over, all ski resorts closed early so it's just me and my ski partner now, she's a sporty one ;-) So with counter party, I worked for a clearing house many many years but thought it was all (or mostly) automated. Maybe I should have understood more of the business side better. What is not automated, where is the risk? I heard a story where one side defaulted, they had to organise a delivery of a ship full of oil.Ignored
Ya 1 or 2 defaults can be arbitrated.
But if big lump of unmanaged positions due to unavilability of managers can be big credit hole. Deep enough and it snowballs downhill.
The overloss mountains can crush. In the sceneros now. A whole floor dealers could disappear overnight. Scary thoughts the credit risks.heard 1 bank temp took out whole floor dealers for a while. If permanent would be scary as ash.
I am watching hope nothing big falls in england after his quarantinned.
Regards