Q&A: Sean Flannery
The chief investment officer for the Americas at State Street Global Advisors in New York discusses the opportunities offered by decomposition of risk as a result of the growth of the credit derivatives market
Q: How significant is the disaggregation and dispersion of risk in the credit markets?
A: The decomposition of risk into finer layers and its trade among a growing number of market participants is one of the most significant events of our time in financial markets. Nowhere is this more apparent than in the extraordinarily rapid development of the credit derivatives and structured products markets. In just three years, the credit derivatives market has grown sixfold, presenting both opportunities
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