All this talk of a FRR wall causing the rates to decline always strikes me as very silly. Why does the wall exist? It is because there is excess supply due to swap rates being 2-10 times higher than the market rate, and due to friction costs of moving money in and out of Bitfinex.
I think the FRR wall isn't suppressing interest rates - in fact it is preventing them from falling fast enough to balance supply and demand. This was especially noticeable with the long decline from 0.1% to 0.04%. The 4 million FRR wall was a product of declining demand (due to the bear market), excessive supply,and a FRR rate that was too high.
Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 129. (Read 723861 times)
October 20, 2014, 10:44:54 PM
October 20, 2014, 08:55:07 PM
How about as a first test measure "FRR = (average of all current swaps/85)*100"? This would mean that the 15% fee of Bitfinex is added statically on top of the FRR, as currently if you lend at FRR, you receive only 85% of the average rate in reality.
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
Are you proposing including the FRR swaps in the calculation and not just the fixed rate swaps?This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
I don't see how your calculation will raise the rate due to more FFR swaps being taken. I think the FRR would get a one time boost when the new formula is implemented and then will proceed to drop just as it does now.
This is one of the main issues. Our goal is not to raise the rates, or lower the rates. Whatever the rate is, we would like to see it adjust to market conditions. That is one of the main problems with this discussion, is that we are looking for ways to improve the FRR, not improve returns for people providing swaps. Most suggestions are looking for ways to increase returns for swaps providers, and while many of those suggestions could work, they are not actually answering the question that was asked, how do we improve the calculation of the FRR? In my opinion, as bitcoin goes more and more mainstream, I think the swap providers will be competing with more of the open market for returns, and I don't see how rates can stay at this level, when they start competing with the expected returns that most people are used to.
That being said, I think we are getting close to an announcement on how we will adjust it. Stay tuned.
With the FRR gone because of large demand in the past days only then we had large (and not really healthy or rational) upward spikes to astronomical rates because there is no incentive to put in orders at the top to create a deep order book.
Now that some large sums have been returned and were immidiately stacked up on the FRR rate we have a huge fastly downward moving wall which won't be eaten any time soon. This would have never happened without the FRR and because of the way the rate is calculated and every lender naturally trying to get his money lend out we are ALWAYS moving downward until we get so low that the FRR dries up and gets eaten. That's not how it supposed to happen and I don't seee any way why it has to be like this.
We had a 3m FRR rate for quite some time and now have just build up another 1m in less than one day. We would almost never see those huge walls without the FRR (in fact I've only ever once seen a single 7 figure offer in the last year). It's foolish to believe that such walls don't have an influence on the market automatically (and the influence is logically downward).
October 20, 2014, 07:32:11 PM
How about as a first test measure "FRR = (average of all current swaps/85)*100"? This would mean that the 15% fee of Bitfinex is added statically on top of the FRR, as currently if you lend at FRR, you receive only 85% of the average rate in reality.
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
Are you proposing including the FRR swaps in the calculation and not just the fixed rate swaps?This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
I don't see how your calculation will raise the rate due to more FFR swaps being taken. I think the FRR would get a one time boost when the new formula is implemented and then will proceed to drop just as it does now.
This is one of the main issues. Our goal is not to raise the rates, or lower the rates. Whatever the rate is, we would like to see it adjust to market conditions. That is one of the main problems with this discussion, is that we are looking for ways to improve the FRR, not improve returns for people providing swaps. Most suggestions are looking for ways to increase returns for swaps providers, and while many of those suggestions could work, they are not actually answering the question that was asked, how do we improve the calculation of the FRR? In my opinion, as bitcoin goes more and more mainstream, I think the swap providers will be competing with more of the open market for returns, and I don't see how rates can stay at this level, when they start competing with the expected returns that most people are used to.
That being said, I think we are getting close to an announcement on how we will adjust it. Stay tuned.
October 20, 2014, 07:24:53 PM
To put the FRR problem a slightly different way... it's using "the average rate of all fixed-rate swaps" to try and approximate the equilibrium point between supply and demand, but it's got its finger on the scales of that equilibrium because so much of the supply and demand it's trying to measure is provided/satisfied by FRR swaps.
Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
I would like to put the same question out to you (and every other swap lender): Can you think of any way to force/compel/prod Bitfinex to address this issue?Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
From my vantage point, there has been a very good discussions of the FRR, it's effects and possible alternatives over the past few days. Bitfinex has been noticeably absent. If they have a viewpoint, even if it is that the FRR will remain unchanged, it would be encouraging if that would say something.
I have mentioned my thoughts on this numerous times, and we are listening to your discussion as we plan on how to improve the FRR.
October 20, 2014, 06:01:15 PM
How about as a first test measure "FRR = (average of all current swaps/85)*100"? This would mean that the 15% fee of Bitfinex is added statically on top of the FRR, as currently if you lend at FRR, you receive only 85% of the average rate in reality.
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
Are you proposing including the FRR swaps in the calculation and not just the fixed rate swaps?This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
I don't see how your calculation will raise the rate due to more FFR swaps being taken. I think the FRR would get a one time boost when the new formula is implemented and then will proceed to drop just as it does now.
Taken as written, without including FRR swaps in the average (setting a variable rate to the average of a bucket of rates including itself just seems too self-referential to work), it would at least move the wall up to "slightly above average", allowing swaps in the slender middle-ground between "average" and "FRR" to be taken, and hence allowing the FRR to move upward without the wall first being eaten.
It's not quite what I had in mind but I'm not sure how my thought could be implemented mathematically - I'd want the wall to move upwards as it gets consumed, regardless of what fixed-rate swaps are doing.
October 20, 2014, 03:48:08 PM
Is a "flash return rate" useful for efficient price discovery? If not, get rid of it. The market would adjust.
Anybody else having problems withdrawing? http://www.reddit.com/r/Bitcoin/comments/2jtfqn/bitfinex_not_processing_withdrawals/
Anybody else having problems withdrawing? http://www.reddit.com/r/Bitcoin/comments/2jtfqn/bitfinex_not_processing_withdrawals/
I did a withdrawal about an hour ago and had no issue.
October 20, 2014, 03:46:20 PM
Is a "flash return rate" useful for efficient price discovery? If not, get rid of it. The market would adjust.
Anybody else having problems withdrawing? http://www.reddit.com/r/Bitcoin/comments/2jtfqn/bitfinex_not_processing_withdrawals/
Anybody else having problems withdrawing? http://www.reddit.com/r/Bitcoin/comments/2jtfqn/bitfinex_not_processing_withdrawals/
October 20, 2014, 03:19:38 PM
How about as a first test measure "FRR = (average of all current swaps/85)*100"? This would mean that the 15% fee of Bitfinex is added statically on top of the FRR, as currently if you lend at FRR, you receive only 85% of the average rate in reality.
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
Are you proposing including the FRR swaps in the calculation and not just the fixed rate swaps?This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
I don't see how your calculation will raise the rate due to more FFR swaps being taken. I think the FRR would get a one time boost when the new formula is implemented and then will proceed to drop just as it does now.
October 20, 2014, 03:10:58 PM
To put the FRR problem a slightly different way... it's using "the average rate of all fixed-rate swaps" to try and approximate the equilibrium point between supply and demand, but it's got its finger on the scales of that equilibrium because so much of the supply and demand it's trying to measure is provided/satisfied by FRR swaps.
Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
I would like to put the same question out to you (and every other swap lender): Can you think of any way to force/compel/prod Bitfinex to address this issue?Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
From my vantage point, there has been a very good discussions of the FRR, it's effects and possible alternatives over the past few days. Bitfinex has been noticeably absent. If they have a viewpoint, even if it is that the FRR will remain unchanged, it would be encouraging if that would say something.
October 20, 2014, 03:04:03 PM
How about as a first test measure "FRR = (average of all current swaps/85)*100"? This would mean that the 15% fee of Bitfinex is added statically on top of the FRR, as currently if you lend at FRR, you receive only 85% of the average rate in reality.
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
This would mean the FRR rises the more it gets used and no fancy programming would need to happen (unlike "FRR +/- X%" scenarios, that can also end up cancelling each other out).
October 20, 2014, 02:50:57 PM
To put the FRR problem a slightly different way... it's using "the average rate of all fixed-rate swaps" to try and approximate the equilibrium point between supply and demand, but it's got its finger on the scales of that equilibrium because so much of the supply and demand it's trying to measure is provided/satisfied by FRR swaps.
Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
Currently, so long as there's a sufficient wall of FRR offers, you can take out a million-dollar swap and leave the rate unaffected... whereas if you did the same thing to the fixed-rate offers it'd tear through to the astronomical rates (if not the entire book of offers) and yank the average abruptly upward. If it could be reformed in such a way that the flash-rate moved in response to offers being taken at the flash rate then... whilst it would still be a bit market-distorting to have so many offers congregated at one point it might at least stop choking the life out of the swap market quite so much, and make it a viable proposition to set a fixed-rate offer higher than the FRR.
October 20, 2014, 11:41:32 AM
Hm, ok third post in a row from me but it's due:
I've been following the discussion about the FRR and I have to say it's fairly obvious at this point: anybody who defends the FRR in its current form and denies its influence on price formation in the swap market is fairly uninformed not to say outright stupid.
I'd recommed everybody to watch the swap orderbook for a day or two and you shall see, it's been especially obvious in the last few days. The amount of swaps is on the rise again and already fairly large relative to the low price and so is the swap rate. In the last three days we had several events where large orders pushed the swap rate into 0.25 to 0.6 territory. This normally lasted for a fairly short time and then went back to 0.08-0.1. Why? Because the muddafuggin FRR comes in, walls the orderbook off with a stupid 6 figure (100k to 300k) offer that takes hours to get cleared and incentivizes many impatient people to offer their money for even lower rates creating a feedback loop.
Of who's benefit is this? Who in their right mind would put a 0.1% offer on the orderbook when the current lowest offer is at 0.27?? It's stupid as hell and destroys a lot of potential returns for the lenders. Even the lazy fucks using this feature lose out on a ton of potential gains.
Normally these spikes are obviously related to manipulation but it doesn't seem like it this time. The orderbook seems to get genuinely thin because intelligent lenders realize the potential rates they can receive at the moment and are hesitant to put in offers at 0.1xx when they know the only offers that get taken quickly are either those below or at the FRR rate of death. And when the FRR wall gets torn down they can potentially offfer some money in the 0.25 to 0.6 region. This is unhealthy for the market and even makes it harder for the lenders to estimate their swap costs.
The swap rates should reflect current sentiment and swap demand but there is so much dumb money in the swap market combined with the lazypants FRR that we currently have a very, very inefficient market.
You and I are very much on the same page. Can you think of any way to force/compel/prod Bitfinex to address this issue?I've been following the discussion about the FRR and I have to say it's fairly obvious at this point: anybody who defends the FRR in its current form and denies its influence on price formation in the swap market is fairly uninformed not to say outright stupid.
I'd recommed everybody to watch the swap orderbook for a day or two and you shall see, it's been especially obvious in the last few days. The amount of swaps is on the rise again and already fairly large relative to the low price and so is the swap rate. In the last three days we had several events where large orders pushed the swap rate into 0.25 to 0.6 territory. This normally lasted for a fairly short time and then went back to 0.08-0.1. Why? Because the muddafuggin FRR comes in, walls the orderbook off with a stupid 6 figure (100k to 300k) offer that takes hours to get cleared and incentivizes many impatient people to offer their money for even lower rates creating a feedback loop.
Of who's benefit is this? Who in their right mind would put a 0.1% offer on the orderbook when the current lowest offer is at 0.27?? It's stupid as hell and destroys a lot of potential returns for the lenders. Even the lazy fucks using this feature lose out on a ton of potential gains.
Normally these spikes are obviously related to manipulation but it doesn't seem like it this time. The orderbook seems to get genuinely thin because intelligent lenders realize the potential rates they can receive at the moment and are hesitant to put in offers at 0.1xx when they know the only offers that get taken quickly are either those below or at the FRR rate of death. And when the FRR wall gets torn down they can potentially offfer some money in the 0.25 to 0.6 region. This is unhealthy for the market and even makes it harder for the lenders to estimate their swap costs.
The swap rates should reflect current sentiment and swap demand but there is so much dumb money in the swap market combined with the lazypants FRR that we currently have a very, very inefficient market.
At this point I'm not sure though whether BFX is actually interested in a more efficient (and possibly more expensive) swap market as they probably earn much more from traders willing to max out their leverage because of cheap swap rates.
October 20, 2014, 11:12:46 AM
So if my swappable balance is less than my total balance (with no unfilled swaps offers) that means that my swaps are still active , right?
Your swappable balance is all funds not currently in either a swap or a swap offer - cash available to lend.
Your total balance includes everything - swaps, offers and unused funds.
So if your swappable balance is zero, with no offers, then all of your funds are tied up in swaps. If it's just "less than" your total balance then some of your funds are in swaps and some are sitting spare.
thanx
October 20, 2014, 11:05:21 AM
So if my swappable balance is less than my total balance (with no unfilled swaps offers) that means that my swaps are still active , right?
Your swappable balance is all funds not currently in either a swap or a swap offer - cash available to lend.
Your total balance includes everything - swaps, offers and unused funds.
So if your swappable balance is zero, with no offers, then all of your funds are tied up in swaps. If it's just "less than" your total balance then some of your funds are in swaps and some are sitting spare.
October 20, 2014, 11:01:20 AM
I am new to swaps and I have a few simple questions
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
They can return it at any time, as and when their trading is done with it. You're setting a maximum duration for the swap, with no minimum.
The cost is calculated and accumulated something like every 10 minutes... can't remember the exact number. You get an aggregate payment for all your swaps at the end of each day (at around 12-1am GMT). There's also theoretically a 1 hour minimum cost for each swap, but I think that minimum appears to be waived when the trader replaces one swap with another - so they pay at least 1 hour, but that payment might be split over several swap providers if they chop/change quickly. Which is a bit messy, but what can ya do...
The funds returned go back to your wallet as "Swappable balance", where you can re-offer them. If you have auto-renew turned on it'll place a new offer for you (may take a little while to do so, but hopefully no more than about 15-30mins)
Thanx
So if my swappable balance is less than my total balance (with no unfilled swaps offers) that means that my swaps are still active , right?
October 20, 2014, 10:56:38 AM
Are those certificate problems still existent? I don't dare to log in now after reading that.
And in general, it'd be nice if the lock was green instead of gray.
And in general, it'd be nice if the lock was green instead of gray.
Seems to be resolved now, and the grey padlock isn't too unusual... plenty of sane/secure sites that don't supply their own identity along that channel.
Yeah, some of you guys may have noticed some weird behaviour with our SSL cert, we renewed it over the weekend, and there was a misconfiguration which might have triggered some warnings over the span of a couple of hours. No worries, however, it is all resolved, just wanted to give a little explanation.
October 20, 2014, 10:56:04 AM
Hm, ok third post in a row from me but it's due:
I've been following the discussion about the FRR and I have to say it's fairly obvious at this point: anybody who defends the FRR in its current form and denies its influence on price formation in the swap market is fairly uninformed not to say outright stupid.
I'd recommed everybody to watch the swap orderbook for a day or two and you shall see, it's been especially obvious in the last few days. The amount of swaps is on the rise again and already fairly large relative to the low price and so is the swap rate. In the last three days we had several events where large orders pushed the swap rate into 0.25 to 0.6 territory. This normally lasted for a fairly short time and then went back to 0.08-0.1. Why? Because the muddafuggin FRR comes in, walls the orderbook off with a stupid 6 figure (100k to 300k) offer that takes hours to get cleared and incentivizes many impatient people to offer their money for even lower rates creating a feedback loop.
Of who's benefit is this? Who in their right mind would put a 0.1% offer on the orderbook when the current lowest offer is at 0.27?? It's stupid as hell and destroys a lot of potential returns for the lenders. Even the lazy fucks using this feature lose out on a ton of potential gains.
Normally these spikes are obviously related to manipulation but it doesn't seem like it this time. The orderbook seems to get genuinely thin because intelligent lenders realize the potential rates they can receive at the moment and are hesitant to put in offers at 0.1xx when they know the only offers that get taken quickly are either those below or at the FRR rate of death. And when the FRR wall gets torn down they can potentially offfer some money in the 0.25 to 0.6 region. This is unhealthy for the market and even makes it harder for the lenders to estimate their swap costs.
The swap rates should reflect current sentiment and swap demand but there is so much dumb money in the swap market combined with the lazypants FRR that we currently have a very, very inefficient market.
You and I are very much on the same page. Can you think of any way to force/compel/prod Bitfinex to address this issue? I've been following the discussion about the FRR and I have to say it's fairly obvious at this point: anybody who defends the FRR in its current form and denies its influence on price formation in the swap market is fairly uninformed not to say outright stupid.
I'd recommed everybody to watch the swap orderbook for a day or two and you shall see, it's been especially obvious in the last few days. The amount of swaps is on the rise again and already fairly large relative to the low price and so is the swap rate. In the last three days we had several events where large orders pushed the swap rate into 0.25 to 0.6 territory. This normally lasted for a fairly short time and then went back to 0.08-0.1. Why? Because the muddafuggin FRR comes in, walls the orderbook off with a stupid 6 figure (100k to 300k) offer that takes hours to get cleared and incentivizes many impatient people to offer their money for even lower rates creating a feedback loop.
Of who's benefit is this? Who in their right mind would put a 0.1% offer on the orderbook when the current lowest offer is at 0.27?? It's stupid as hell and destroys a lot of potential returns for the lenders. Even the lazy fucks using this feature lose out on a ton of potential gains.
Normally these spikes are obviously related to manipulation but it doesn't seem like it this time. The orderbook seems to get genuinely thin because intelligent lenders realize the potential rates they can receive at the moment and are hesitant to put in offers at 0.1xx when they know the only offers that get taken quickly are either those below or at the FRR rate of death. And when the FRR wall gets torn down they can potentially offfer some money in the 0.25 to 0.6 region. This is unhealthy for the market and even makes it harder for the lenders to estimate their swap costs.
The swap rates should reflect current sentiment and swap demand but there is so much dumb money in the swap market combined with the lazypants FRR that we currently have a very, very inefficient market.
October 20, 2014, 10:55:01 AM
I am new to swaps and I have a few simple questions
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
They can return it at any time, as and when their trading is done with it. You're setting a maximum duration for the swap, with no minimum.
The cost is calculated and accumulated something like every 10 minutes... can't remember the exact number. You get an aggregate payment for all your swaps at the end of each day (at around 12-1am GMT). There's also theoretically a 1 hour minimum cost for each swap, but I think that minimum appears to be waived when the trader replaces one swap with another - so they pay at least 1 hour, but that payment might be split over several swap providers if they chop/change quickly. Which is a bit messy, but what can ya do...
The funds returned go back to your wallet as "Swappable balance", where you can re-offer them. If you have auto-renew turned on it'll place a new offer for you (may take a little while to do so, but hopefully no more than about 15-30mins)
October 20, 2014, 10:53:29 AM
I need urgent help with BTC withdrawals from Bitfinex. I've had 2 issues in the past couple of days and I have sent a couple of emails without a response yet:
1- I tried to make a btc withdrawal on 10/18 but the system never sent me the confirmation email. I emailed support on the 18th but received no response. had to cancel withdrawal request
2- on 20 Oct 00:40 I made another withdrawal request, this time I got the confirmation email. I confirmed it, and now the system shows the withdrawal as completed. However, it is not showing any TX id and my address is not showing any transactions at all. This is 9 hours ago. I've sent an email to support, but still no response.
What's going on with Bitfinex? I've never had issues like this before.
Thanks
1- I tried to make a btc withdrawal on 10/18 but the system never sent me the confirmation email. I emailed support on the 18th but received no response. had to cancel withdrawal request
2- on 20 Oct 00:40 I made another withdrawal request, this time I got the confirmation email. I confirmed it, and now the system shows the withdrawal as completed. However, it is not showing any TX id and my address is not showing any transactions at all. This is 9 hours ago. I've sent an email to support, but still no response.
What's going on with Bitfinex? I've never had issues like this before.
Thanks
October 20, 2014, 10:46:05 AM
I am new to swaps and I have a few simple questions
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
I know this has been answered before here but 256 pages are too much
thanx
Does the borrower have the right to return the swaps to the lender before the expiration day?
if yes
how is the cost for the borrower calculated?
what happens to the terminated swap?
does it return to the order book for the rest of the time until expiration?
I know this has been answered before here but 256 pages are too much
thanx
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