Collateral Securities Lending, Repo, OTC Derivatives and the Future of Finance

When we embarked upon the writing of this book, our initial mandate was simply to update the original extbook, Repo: The Ultimate Guide, but it soon became apparent that this would not do. So much had changed during those intervening years that the repo product now deserved to be seen in a wider context. Nearly a decade had elapsed since the first book came out and coincidentally since the last major liquidity crisis. The market had since been repopulated by a new generation of traders who had never been obliged to operate outside the comfort zone of easy credit. At the same time, the memories of some of those that did live through the 1998-1999 crisis had since been assuaged by the prolonged period of abundant liquidity.