London-based data provider Markit has appointed Marcus Schüler as managing director in sales and marketing.
Dealers believe the $2 billion investment by Bank of America in troubled California-based mortgage lender Countrywide Financial helped ease credit worries during morning trading in Europe.
Deutsche Bank's London office has begun to trade credit default swaps based on European leveraged loans (LCDS) this week. The German bank had executed trades before, but it is now actively making markets and showing pricing runs for more than 20 names.
The high profile bankruptcy protection filing by US auto parts manufacturer Delphi last weekend and the subsequent downgrading of General Motors (GM) by Standard & Poor’s have heightened market interest in recovery swaps, say dealers.
Michigan-based auto parts maker Delphi’s filing for Chapter 11 bankruptcy protection on Saturday has sparked a frenzied day of trading for the credit markets.
Creditex, Markit and seven credit derivatives dealers today launched 'tradeable credit fixings' in what the backers hailed as a "milestone" in the development of the credit derivatives market.