CDS Swap for Trioptima

News

Stockholm-based TriOptima has executed a further credit default swap (CDS) termination cycle, tearing up more than $720 billion contracts involving Delphi. In the wake of the Michigan-based auto parts manufacturer filing for Chapter 11 on October 8, 21 dealers used the firm's multilateral tear-up technology to terminate some 5,300 single-name Delphi CDS contracts with a notional value of $23 billion - about 70% of all outstanding Delphi single-name contracts - on October 12 and 19. Before ba

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