Exchange-traded credit derivatives disappoint



The world's first exchange-traded credit derivatives, which were listed by Frankfurt-based Eurex on March 27, have posted lacklustre trading volumes, with only one major dealer making markets in them.

The three futures contracts are referenced to the Frankfurt-based International Index Company's iTraxx Europe, Crossover and HiVol five-year credit default swap indexes. The contracts, which are cash-settled, trade in increments of EUR100,000. They pay a fixed coupon and have semi-annual maturit

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