CDS

Following the steps taken by the Greek government to restructure its government debt, collective action was invoked by Greece to force all holders of its debt to accept a debt swap on their Greek debt holdings. This event resulted in ISDA declaring a credit event (on 9 March), which led to an auction (on 19 March) to settle payment of protection on CDS.

Service Now Includes Independent Coverage of Credit Default Swaps  and Select CDS Indices

Interactive Data Corporation, a leading provider of independent pricing and evaluation services, today announced the expansion of its OTC Derivatives Valuation Service to include independent evaluations of Credit Default Swaps (CDS) and select CDS Indices.

LCH.Clearnet SA (LCH.Clearnet) today announces the launch of its international CDSClear service, an extension to the established domestic French offering launched in March 2010.  CDSClear now offers an innovative, multi-jurisdictional CDS clearing framework.

Markit, a leading, global financial information services company, today announced that it has created a new set of tools to help traders and risk managers identify the correlations between changes in the value of credit default swaps (CDS) and movements in stock and options markets.  The new data service, Markit Credit Factors, will provide customers with the first sentiment signals for CDS produced by an independent financial information firm.

IntercontinentalExchange's Creditex subsidiary and Markit will conduct a Credit Event Auction to facilitate settlement of credit default swaps (CDS) trades on Sino-Forest Corp. on May 9, 2012.  This will be the first credit event auction conducted to settle CDS trades outside of North America, Europe and Japan. 

IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that its credit default swap (CDS) clearing houses surpassed $30 trillion in cumulative gross notional value during the clearing cycle ending April 26, 2012. ICE Clear Credit, ICE's North American CDS clearing house, also announced that HSBC Securities (USA) Inc. was approved as a member of the clearing house.

New Credit Default Swaps Record in March with More Than $53 Billion Cleared

CME Group, the world's leading and most diverse derivatives marketplace, today announced that the company has surpassed $500 billion in total notional value cleared in interest rate swaps (IRS) and credit default swaps (CDS).  In addition, the company had a monthly volume record of $53.3 billion in CDS cleared in March, a 344 percent increase over the previous record month in February.

This new offering brings together fixed income assumption sets for developing evaluated pricing, model valuation and third party prices and quotes with terms and conditions data and associated obligor information to serve risk, treasury, fund accounting and audit professionals

Markit and IntercontinentalExchange’s Creditex subsidiary today announced the results of a Credit Event Auction conducted to facilitate settlement of credit default swap (CDS) trades referencing The Hellenic Republic’s sovereign debt. This is the second time that a Credit Event Auction has been run to settle credit default swaps (CDS) referencing the debt of a sovereign nation.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that the Auction in respect of outstanding CDS transactions relating to The Hellenic Republic has been successfully completed.  

Please click here to view the Auction results.