1,895 karma · joined June 26, 2013
I suggest that you put this detail on your website - it's a compelling argument for the product (apologies if it's already there but I couldn't find it if so).
AFAIK, all the above brands use pads from EIT (http://www.elasticinterface.com/) - are your pads better and if so, why?
Defining a swap: the OTC market is complex and there is no standard representation for many of the products - this makes reconciling data submitted by each of the firms complex. A simple interest rate swap report could contain up to 1,000 elements to fully describe a trade.
Volume: the 2 major OTC reporting regimes, Dodd-Frank and ESMA, both generate tens of millions of trade reports daily. This data needs to be correct; needs to be both ingested and retrieved quickly and needs to support complex post-reporting processing and queries.
Complex workflow: each swap undergoes many changes during it's lifetime, which complicates the workflow and data for reporting. For example, you may trade a block CDS, which is split into 20 allocations, some of which are new trades and some that alter existing trades (step ins; step outs; terminations; reductions...). Each of the allocations may require different reporting treatments.
And yes, the 'too much data, not enough scientists' problem with interpreting the submissions. Bear in mind that the SEC reporting hasn't started yet - that's 2015...
In reality, the swap data repositories are finding the data submitted by each institution very difficult to reconcile - it's a step in the right direction but the goal of constructing a full representation of each financial institution's derivatives exposure is still a way off.
I've assumed only outright ticks, hence the 40 pairs - in reality most banks store the crosses as well, which can be up to 1,600 pairs (40 x 40), which will get you into the PB range for the 40 years.
The NY test - 10 minutes in the car. I drove around the block; parallel parked, 3 point turn and back to the start. Done.
UK test - an hour in the car; had to drive in urban, country and highway settings (a dual carriageway, not a motorway - learners are not allowed to drive on motorways in the UK); parallel park and answer a lot of questions while doing so.
That's not to discount the fact that the UK has a lot of bad drivers - but the NY test was simply a joke.
Peter joined the Baltimore Police and describes how they were taught to "own the situation", which in effect means responding with escalating force until the situation is under control. This approach is evident in the reports from both the Washington Post and Al Jazeera journalists. From the book's description of the training, there appeared to be little effort to educate on correct responses for different situations.
I have friends in the UK Police force (I am not a cop myself) that tell me they are taught how to diffuse situations rather than escalate them and that getting into a violent confrontation is seen as a last resort, not a first response.
I have every sympathy with the police, and the tough job that they face, but I can't help but feel that the differences in approach and specifically the inflexibility of the US police training does not help them.
I don't believe a significant proportion will have been retired since.
Languages never die - they just keep running...
[1] http://www.computerworld.com/s/article/9004821/Cobol_The_New...
That's not to say that the above are not reasonable policies for an advanced western economy, just not that they could reasonably be considered purely capitalist.
Undoubtedly the US military is one, if not a major force in the post WWII security, but many other factors have contributed to this, such as Khrouchtchev's policies of co-existence; the emergence of China as a nuclear power that forced Russia to side with the US and the European Union that bound France and Germany economically, making future pan-European wars much less likely.
Lets not also forget the European conflicts since 1945 despite all of the above - Soviet invasion of Czechoslovakia; Turkey invading Cyprus; Bosnian war; the Chechen crisis; Kosovo; Russia-Georgia and the Crimea.