Same underlying names dominate CDS in December
Credit default swaps (CDSs) offering protection against debt issued by Asian financial services firms - and by US auto makers and European telecoms firms - were again the most actively traded credit derivatives in December.
In Asia, financial service company CDSs were the most actively traded contracts for the eighth month in a row, led by Kyoto-based Aiful and Tokyo-based Takefuji. CDSs on car makers, in particular Ford and General Motors, were the most active US names, says New York-based interdealer broker GFI.
Telecom Italia was once again the most active European CDS underlying, with the telecoms industry dominating the market in Europe. Turkey, Brazil and Ukraine were again the most active names traded in the sovereign CDS area.
- Alexander Campbell.
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