mjr, there seems to be a serious bug with the swap offer matching. Ive now witnessed multiple times that the FRR was tunneled through. Funds were taken at higher rates although lower rates at FRR were still available. For example I had a 2 day swap offer taken out at 0.1299 when there were over 400 k in swaps availabe at FRR (0.1196 at the time) with a range of 2-30 days. How is that possible?
Some people want a fixed rate, so the FRR rate does not matter for their swaps.
Nah, something is seriously not right here. Did you see what just happened? FRR keeps increasing (from 600 k to 1m in the last hour) and just now a 300 k demand pierces right through and raises the rate to over 0.45% behind the FRR. Never has this happened before until a few days ago. Same thing happened yesterday.
What would the guy that just took out 300k in one swipe ignoring the FRR have done? This is shady as hell and reminds me of the older swap manipulation that went on for quite some time without anyone at BFX noticing.
http://bfxdata.com/swapstats/usd.php