Isda standardises docs for CDS of CDOs
Investors in collateralised debt obligations can now easily execute credit derivatives referenced to cashflow CDOs, after the International Swaps and Derivatives Association (Isda) launched a standard documentation template for the instruments yesterday.
The CDS of CDO template has a pay-as-you-go framework that is similarly structured to the template for CDS on asset-backed securities published last June for contracts referencing commercial and retail mortgage-backed securities.
A key difference
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