Syncora worth 15%, according to credit derivatives auction

This means protection sellers would need to pay protection buyers who opted for cash settlement 85% of the par value of the CDS contracts.

The auction follows an Isda Derivatives Determinations Committee decision on May 1 that Syncora had undergone a failure-to-pay credit event, as a result of a New York State Insurance Department directive forcing it to stop making payments to counterparties from April 26.

A credit event auction for Hengersberg, Germany-based auto-parts supplier Edscha is set for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here