CDS portfolio trading tool hits the market
Q-Wixx, a service that automates the pricing and execution of lists of CDS, launched in early June. Users say Q-Wixx cuts the time it takes managers to ramp up CDOs from hours to just seconds and slashes the market and operational risk inherent in the existing system.
Currently clients trading bulk CDS send an Excel sheet of names to multiple dealers. Each bank’s sales dealer will go to 10 or 12 traders to price the list, which might contain up to 200 credits from various sectors and regions; he
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