CDS e-trading picks up

There has been a “sharp increase” in electronic trading of CDS, according to online trading platform Thomson TradeWeb.

Despite a slow start following its launch in October 2005, the platform has averaged trades worth “billions of dollars” during each of the past six months, it says.

Hedge funds are likely to be behind the growth: the platform saw a notable surge after it added prime-brokered trades to the platform last October.

TradeWeb has recently promoted John LaVecchia to become head of cred

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