Martyn Brush, global head of traded market risk at Royal Bank of Scotland, says the bank's positions in the U.K. inflation-swaps market are too big. "I'm way outside my risk appetite now, and I'm there because other people in my firm have built up large positions," Brush said. "As market participants, we've constantly thought that a dominant position increases pricing power. It does, until you want to exit, in which case there isn't any pricing power." Brush says the comment reflects his personal opinion.
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