The lessons from Delphi's default

Default settlement

pg42-miller-gif

It has taken a while for the issue of settlement of credit derivative contracts to come to the fore. While participants have considered proposals for improving the settlement process, it is only in the last year that the market has really been tested on this issue. The increased number of defaults in the latter half of 2005, following the relatively benign credit cycle in the two preceding years, and the continued growth of credit derivative volumes has now made this one of the top p

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: