Counterparties to derivatives trades with Lehman Brothers that are currently in-the-money for the bankrupt estate will not be able to hold off payment indefinitely, predict lawyers.
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the...
High noon for CDS Clearing
The issue of how to tackle the vast quantities of impaired assets lingering on banks' balance sheets has given rise to several possible solutions, chief among which is the notion of a 'bad bank'. Credit asks five market participants how such a scheme...
A new scheme for adjudicating on credit event auctions, consisting of a centralised committee, will replace the old system of ad hoc decision-making
The standard measures of credit risk do not efficiently capture the possible distribution of losses on a portfolio. But the Omega function may provide a solution for investors. Gene Yeboah
Counterparties may find that the legal process is stacked against them if they continue to resist payment of outstanding derivatives contracts with the bankrupt Lehman Brothers, say lawyers
The Bond Exchange of South Africa has been taking tentative steps towards expansion since its demutualisation in 2007. Now, its future looks intimately intertwined with that of its former rival, the Johannesburg Stock Exchange. Mark Pengelly reports
Swiss structured product providers will now be able to collateralise the listings that they trade on Scoach, the national exchange. Providers have responded positively to the initiative, which may provide a much-needed boost to the Swiss structured products...