Big MACs and Other Swap Delicacies

Tim will have his with CLOBs of cheese.

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Sometimes, it takes a little time for a game-changing development to really start getting its legs under it.

In our coverage this week, the buy side saw this on two fronts, both related to swaps. And even more intriguing, they're working directly against each other.

MACs Attack
First, there is the matter of MAC swaps. In anticipation of the new swap execution facility (SEF)-based ecosystem post-crisis, the industry—to its credit—did a lot of work getting these standardized products created, in ho

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