I'm not so sure. I sat on both futures and swaps desks. Certainly a lot went through the futures on those 4 dates, but the swaps business was OTC, settling every day. I could easily see someone with varying settlements pushing it conveniently their way every day. Each customer would lose a little bit but put it down to noise.
Interestingly I also did FX and people got done on that as well. There's this daily fixing that's used for a variety of products, and a big player like a bank would have a daily delta that would be very nice to nudge the right way each day. You could actually see at 1630 each day that something odd was going on, and there'd be a rumor to go along with it on the squawk box.
Interestingly I also did FX and people got done on that as well. There's this daily fixing that's used for a variety of products, and a big player like a bank would have a daily delta that would be very nice to nudge the right way each day. You could actually see at 1630 each day that something odd was going on, and there'd be a rumor to go along with it on the squawk box.