Yeah -- my gut intuition is that this would be a GREAT opp for custodians of shares. (Your shell contract example basically)
You'd buy huge tranches of companies and swap out synthetic exposure to secondary investors who want just temporary directional risk in these companies. Modeling the relative value of the true shares and synthetic shares would be interesting/fun.
You'd buy huge tranches of companies and swap out synthetic exposure to secondary investors who want just temporary directional risk in these companies. Modeling the relative value of the true shares and synthetic shares would be interesting/fun.