Credit derivatives: the past, the present and the future

By Robert Reoch

credit-derivatives-book
This article was first published as a chapter in Credit Derivatives, by Risk Books.

A BRIEF HISTORY

The credit derivatives market saw its earliest trades in 1993, when CSFB and the then Bankers Trust were transacting basket structures to lighten up credit exposures to the banking and sovereign sector. A few other banks followed suit in 1994, driven by, among other things, the desire to hedge sovereign credit exposures resulting from long-dated cross-currency swaps on the back of sizeable sove

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: