Trading volume of emerging markets credit default swaps soared 85% in the second quarter to USD568 billion compared with a year earlier and 35% ahead of the first quarter of 2010, according to EMTA. The emerging-markets debt trading association noted that Turkish sovereign CDS were the most frequently traded in the second quarter at USD118 billion, followed by those of Russia (USD92 billion) and Brazil (USD68 billion). Russian energy company Gazprom was the most frequently traded corporate CDS at USD54 billion.
EM CDS Trading Volumes Surge 85% In Q2
