
Isda issues Masonite CDS auction terms
Daily news headlines
NEW YORK - The International Swaps and Derivatives Association (Isda) has announced it will publish auction terms for loan-only credit default swap (CDS) transactions referencing Canadian hardware firm Masonite, a constituent of the Markit LCDX index. The industry association's announcement follows its October release of auction protocols for Iceland's three nationalised banks and September attempts to reassure Lehman Brothers investors.
Isda says the auction terms will be published on its website. LCDX dealers voted to hold an auction, although the auction's terms and date have not yet been set. However, it will be conducted according to LCDX auction rules, which will also be published on Isda's website.
Auction terms will outline a settlement mechanism similar to those used to settle CDS contracts referencing Lehman or US bank Washington Mutual. Unlike those mechanisms, however, the auction mechanism for Masonite is already built into Isda's standard loan-only CDS documentation, requiring no new protocols. Markit and Creditex will administer the auction.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operational risk
Regulation
French regulator questions need for share trading equivalence
Esma’s reinterpretation ahead of Brexit reduces need for equivalence system, says AMF official
Receive this by email