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Same underlying names dominate CDS trading in December, says GFI

Credit default swaps (CDS) offering protection against debt issued by US auto companies, European telecoms and Asian financial services institutions were again the most actively traded credit derivatives in December.

Credit default swaps on auto manufacturers, in particular Ford and General Motors, were the most active US CDSs, according to New York-based interdealer broker GFI.

Telecom Italia was once again the most active European CDS, with the telecom industry dominating the market. In Asia, financial services was the most active sector for the eighth month in a row, led by Kyoto-based Aiful and Tokyo-based Takefuji.

Turkey, Brazil and Ukraine were again the most active names traded in the sovereign CDS area.

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