Chinese credit certificates trading imminent, says NAFMII
Registered dealers in China could start trading credit risk certificates—a similar product to credit default swap contracts—within the next few weeks. The certificates will allow holders of them to deliver the underlying to the issuer upon the event of a default.
Credit risk mitigation certificates could start trading in China within the next two weeks, a National Association of Financial Market Institutional Investors official told sister publication Derivatives Week.
Upon a credit event, a holder of such certificates has to deliver the physical underlying to the issuer who has
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