Isda publishes template for recovery lock credit derivatives
Isda has published a template for recovery lock credit derivatives. The template – another tool in the industry body’s suite of credit derivatives documentation – 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.
Isda is also currently working on a template for loan-only credit default swaps
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