Isda docs saved crypto startup that lent to Alameda
Early termination clause allowed Cega to recover $13.6 million in loans to failed trading firm
At least one decentralised finance firm was able to recall loans made to Alameda Research before it collapsed thanks to bespoke clauses contained in its derivatives contracts with the failed crypto trading firm.
Cega.fi, a startup exotic structured products protocol, generates yield by lending customer deposits to crypto market-makers and selling a variety of topside and downside options linked to crypto assets. The firm has $43.6 million in assets under management and had lent around a third
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Trading
Repo and FX markets buck year-end crunch fears
Price spike concerns ease as September’s surprise SOFR jump led to early preparations for bank window dressing
Quants mine gold for new market-making model
Novel approach to modelling cointegrated assets could be applied to FX and potentially even corporate bond pricing
Bilateral streaming relationships set to grow, say LPs
FX Markets Europe: More clients are embracing APIs to access bank liquidity directly
Buy-siders call for FX options workflow overhaul
FX Markets Europe: Traders say electronification of FX options is still lagging
FX options market eyes Trump inauguration trades
FX Markets Europe: Traders turn to short-dated plays on cabinet picks and early tariff actions
Higher rates see corporates reassess FX structured products
Treasurers are getting a taste for dual currency notes and structured forwards
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
SocGen makes Americas FX push with string of new hires
French bank eyes US and Latin American real money clients
