Buy-side gets green light for CDS clearing
The credit derivatives community might be forgiven for giving itself a pat on the back for successfully implementing CDS clearing for dealers, but the work is not done. By December, the industry has committed to extending CDS clearing to the buy-side.
It has been a frenetic year for credit derivatives dealers. Pushed by regulators to centrally clear credit default swaps as a way of reducing counterparty risk, they have made major changes to the way in which the product is traded to make the
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