CDS market faces iTraxx clearing obstacle


Derivatives market participants are trying to solve a problem that could prevent the clearing of credit default swaps (CDSs) on the Markit iTraxx Europe index – one of two index families the Commodity Futures Trading Commission (CFTC) plans to include in its initial clearing mandate, which is expected to take effect during the first quarter of 2013.

The issue prompted the International Swaps and Derivatives Association to argue in a September 6 comment letter that iTraxx clearing should be delay

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