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Chicago Trading Titan Don Wilson Says Libor’s Obituaries Are Premature

  • Head of DRW sees Libor living past its 2021 expiration date
  • Repo chaos exposed replacement rate’s shortcomings, he says
Donald R. Wilson
Donald R. WilsonPhotographer: Christopher Dilts/Bloomberg

Chicago trading legend Don Wilson suspects the scandal-tainted Libor interest-rate benchmark is going to stick around past its 2021 expiration date, defying the expectations of the Federal Reserve and other regulators.

In two years, banks will no longer be required to supply data used to calculate the London Interbank Offered Rate. But that doesn’t mean they’ll stop, Wilson, the chief executive officer and founder of futures-and-options giant DRW Holdings LLC, said in an interview Monday at his office.