The Intercontinental Exchange (ICE), owner of the New York Stock Exchange, other exchanges and clearinghouses, announced that ICE Clear Credit has surpassed $100 billion year to date in gross notional cleared for client accounts for single name credit default swaps (CDS), officials say. This marks a 200 percent increase over 2015. The ICE Clear Credit… Read More >>
Are Credit Default Swaps Worse than You Thought?
A new white paper from the Office of Financial Research (OFR), a division of the U.S. Treasury Department, has found that when big banks conduct their stress tests they should be more aware of the dire consequences that indirect counterparties of credit default swaps (CDSes) can have. In fact, the new research suggests that the… Read More >>
Credit Default Swaps: Still Toxic after All These Years?
Can the credit default swap market be salvaged? That’s the titular question posed by a new research report from the Kroll Bond Rating Agency, which traces the impact of credit default swaps (CDS), a relatively new instrument designed originally to guarantee loans that supposedly would never default en masse, but which is now widely regarded… Read More >>
ISDA Endorses Semiannual Single-Name Credit Default Swaps
Derivatives industry group the International Swaps and Derivatives Association (ISDA) is officially urging that the single-name (single company) credit default swap (CDS) roll protocol frequency be changed from a quarterly to a semiannual basis, officials say. In a prepared statement, ISDA officials say the change is in response to market feedback and is aimed at… Read More >>
