Isda releases recovery lock derivatives template

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The International Swaps and Derivatives Association (Isda) has published a template for recovery lock credit derivatives. The template will help the product sector run more smoothly and efficiently, says Robert Pickel, chief executive officer and executive director of Isda. Recovery lock derivatives give credit protection buyers the security of a fixed rate of recovery in a credit event.

The association is also currently working on a template for loan-only credit default swaps, for use with C

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