Q&A: The Big Bang protocol

Three Isda execs give their views on the Big Bang protocol governing credit derivatives trading, and the function of the new determinations committees.

Q: Where did the term Big Bang come from? Why does it apply here?

David Geen, general counsel, Isda: In the context of CDS, it signifies a radical shift in the way CDS are documented and transacted. Instead of making a number of changes over time, here they are implemented as a package. The point of Big Bang is to effect major changes not only

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