Interest Rate Derivatives – Brian Spear
Compliance takes up more and more time on our side…Know Your Customer, the Patriot Act, Dodd-Frank and everything…they take up time and take up money…so we try to streamline it and Chris is a key to streamlining the derivatives side. He’s been able to remove that hassle from my to-do list and it’s a great benefit to me.
Brian Spear: EVP, CED Capital Holdings
We have tax exempt variable rate bonds that require us to put caps in place. Our strategies change when the direction of interest rates change. Chris has done a great job and is very prompt to respond. I don’t have to worry about him selling me or leading me towards unnecessary transactions. He is truly a valued consultant. When it’s time to do a transaction, we do it through him. We need derivatives, it’s just the nature of our business. His advice is very good and timely – he’s exactly what we need for our business and to deal with my transactional needs.
The team has been around for many market changes – and Derivative Logic is bouncing ideas off each other all the time. They have their fingers on the pulse of the market. We just discussed using a cash settled swaption instrument to hedge against interest rates, so when we execute our debt we will be at a good level. Chris pointed me in the right direction. It’s the right product for what we want to do and the advice from Derivative Logic gets us ready to execute our strategy at the right price.
Compliance takes up more and more time on our side. But, again, Chris is the leader working with my team and he’s made it as efficient as possible. Know Your Customer, the Patriot Act, Dodd-Frank, are guidelines that we have navigate, but we try to find systems that make them smooth. They take up time and take up money. So we try to streamline them and Chris is a key to streamlining the derivatives side. He’s been able to remove that hassle from my to-do list and it’s a great benefit for me.