Official thumbs-up for CDS auction process

A report released in March by the Senior Supervisors Group (SSG) suggests the auction process for settling credit default swaps - tested several times over the past six months - is working.

In the report, the SSG - a collection of regulators from North America, Europe and Japan - looked at how firms manage their CDS activities and positions following a credit event. The SSG based its findings on discussions with four major dealers, four buy-side firms, three services providers and the Internation

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