First trade for Creditex's online bulk CDS platform

- Alexander Campbell
- 18 Dec 2006

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Q-Wixx said the trade involved four dealers - Credit Suisse, Deutsche Bank, Goldman Sachs and JP Morgan - and the credit-focused hedge fund Cairn Capital. The portfolio included 131 north American and European names, totalling $1 billion and €500 million respectively, and was executed in 10 minutes, using T-Zero straight-through processing.

The company plans to focus on ‘offers wanted in competition’ and ‘bids wanted in competition’ lists of large numbers of names with notionals over $1 billion or €1 billion.

The company is being spun off from US electronic trading platform Creditex.

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