Standardised docs launched for loan CDS

Standardised confirmation and settlement documents for credit default swaps on loans (LCDS) launched today after months of negotiation over terms. The standardised contracts will be used to document first, second and third lien syndicated secured LCDS trades in the North American market.

Dealers and buy-side participants have been working together with industry bodies the International Swaps and Derivatives Association and the Loan Syndications and Trading Association (LSTA) since November 2005

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