New CDPCs set for launch


Two new credit derivatives product companies (CDPCs) are on the verge of making their first trades. Mass Mutual and its investment arm Babson Capital Management have launched Invicta Credit, while Deutsche Bank and Axa Investment Managers have partnered to create NewLands Financial CDPC.

CDPCs are structured finance operating companies with the ability to sell protection on single-name credit default swaps, as well as structured credit investments such as synthetic collateralised debt obligations

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