TriOptima run sees $127 billlion in CDS torn up

Previous runs this year have dealt with CDS from various sectors in the US and Europe, including telecoms, indexes, automobiles and high-yield CDS. Since January, TriOptima has torn up more than 71,000 CDS with a notional value of $1.23 trillion and a mark-to-market value of $23.9 billion.

As in previous tearup cycles, eighteen institutions, representing about 90% of the total interdealer market, took part in the exercise.

The tearups represent 19% of the total CDS notional volume in the market at the end of last year, according to figures from the Bank for International Settlements.

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