CDS changes considered in wake of Thomson restructuring

guy-america-2

After a series of difficulties hit auctions to cash-settle credit derivatives referencing French media firm Thomson last month, dealers are considering making further changes to the European credit default swap (CDS) market.

Any alterations would follow the small bang protocol earlier this year, which changed the mechanism for dealing with restructuring credit events to make them compatible with central clearing. Thomson is the first restructuring to have occurred under the small bang protocol a

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: