Isda moves to fix outdated CDS obligations list
Updated process would allow for mass updates, reserving legal review for most complex challenges
The process for assigning reference debt to credit derivatives contracts is set for a long-awaited overhaul, as a new proposal from the International Swaps and Derivatives Association aims to address flaws in a neglected piece of market infrastructure that helps determine whether credit default swap (CDS) contracts pay out.
Updates to the list of standard reference obligations (SROs), which define
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