Bifurcated market possible post-credit definitions

Credit
By Hazel Sheffield
02 Apr 2014

New credit default swap definitions published by the International Swaps and Derivatives Association last month could lead to the creation of a bifurcated market when they become effective from September, according to market participants.

A senior lawyer in New York told GlobalCapital that a protocol being drawn up for the new CDS definitions is expected to only cover aspects of the definitions that won’t have a big price impact, which could result in a bifurcated market for a time. “Only certain aspects ...

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