S&P Warns of Derivatives Risk

Financial Times Published: September 27, 2005
By Richard Beales and Jennifer Hughes in New York

“Investors can chose their own names and don't have to use a benchmark, but that takes a lot more work,” said Janet Tavakoli, an independent industry consultant. (Investment banks and hedge funds use indices for hedging.) “People are hedging using these indices, but they're all using the same ones.”

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