Getting Smart About Smart Contracts in Rates
Smart contracts’ potential for making the rates swaps business much more efficient looks very attractive. But these contracts, and the processing arrangements they require, imply changes in almost every aspect of the swaps business, for just about every kind of participant. With the support of ISDA and certain large market participants, the outlook for smart contracts remains promising. But getting to the promised land is always a trek, and this transition is no different. This TABB Group Market Note examines the characteristics of smart contracts and how they fit into the mechanisms of the rates swaps market.
- Fixed Income