ISDA makes move on CDS reform, targeting manufactured defaults

The International Swaps and Derivatives Association (ISDA) is planning to bring in new safeguards to clamp down on credit default swaps (CDSs) being used to trigger manufactured defaults.

  • By GlobalCapital
  • 07 Mar 2019
Proposals from the ISDA working group, which includes representatives from Goldman Sachs and Apollo Global Management, are intended to end a controversial strategy that has been used by certain hedge funds. This comprises commercially viable companies being encouraged to file for bankruptcy in return for favourable financing terms, ...

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4 Deutsche Bank 12,826.80 46 4.92%
5 SG Corporate & Investment Banking 12,165.84 59 4.67%

Bookrunners of all EMEA ECM Issuance

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2 JPMorgan 5,765.60 34 9.35%
3 Goldman Sachs 5,589.53 27 9.07%
4 UBS 4,134.32 20 6.71%
5 Citi 4,039.74 28 6.55%