Dan Maguire Head of SwapClear US does some video interviews on clearing, the one from Fox Business mistakenly states he’s CEO of SwapClear (he isn’t, Michael Davie is), and also has an amusing “translation” of what a derivative is.  The interview seems to establish that SwapClear clears $300trn *each year*, whereas we know it means the gross notional of open trades. Enjoy….

Tabb video with Dan here.

FOX Business here.