[vmception]

> the net supply of derivatives (such as options, forwards, futures) is zero.

so we believe, but yes.

also CDOs have entered the chat

[refurb]

But CDOs have to have someone on each side the deal, hence net zero.

[defen]

Liquidity risk has entered the chat

[vmception]

you mean the same person on all three sides of the deal, unbeknownst to them