With a bang

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Equating recent changes in credit derivatives contracts to the creation of the universe might have been overstating the significance of matters a little on the part of the International Swaps and Derivatives Association.

Formally titled the 2009 Isda Credit Derivatives Determinations Committees and Auction Settlement Credit Default Swap (CDS) Protocol, the so-called 'big bang' is the latest step in ongoing efforts by Isda and credit market participants to standardise the CDS market and make it m

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