The amount of single-name credit default swaps cleared through Ice Clear Credit as a proportion of total outstanding notional more than doubled between 2015 and 2017, from 5% to 11% – the combined result of a hike in the volume of trades shuttled through the central counterparty and a decline in the overall size of the market.
The sum of open interest in single-name corporate and sovereign instruments cleared through ICC, the world’s largest clearing house for CDS, climbed from $390 billion at
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