Dealers agree standard index CCDS documentation

contract
Signed, sealed and (almost) delivered

A group of major dealers has agreed the terms for standard contingent credit default swap (CCDS) trades linked to indexes, with documentation set to be published by the International Swaps and Derivatives Association as early as this week.

Proponents say the publication of standard documentation will help bolster the market for CCDSs, which has so far struggled to get off the ground. "It's what everyone has been waiting for," says one New York-based head of credit value adjustment (CVA) at a maj