Credit traders await resolution on delayed swaps index
Market participants confident CDX Financials fix will overcome regulatory obstacles
Earlier this year, credit traders hoped a new credit default swap (CDS) index would help them hedge their exposure to North American financial institutions. More than five months after its scheduled launch in June, the traders are still waiting.
Market participants believe a proposed fix to some of the index’s constituents will clear the regulatory hurdles dealers cited in May. The index administrator, S&P Global-owned IHS Markit, is consulting on the changes that would see the reference entities
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