Sunil Hirani



How has the merger of iBoxx and Trac-x into Dow Jones CDX in North America and Dow Jones iTraxx in Europe affected the credit default swap (CDS) market?

The merger of the competing index families has to be the most important development of 2004 in the CDS market. It was the defining event of 2004 for several reasons. Foremost, it clearly showed that major market participants were willing to work in cooperation to create a larger, more efficient market with unparalleled liquidity and

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