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CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
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The credit derivatives market underwent major reform in 2009 and more reform is yet to come. The market has certainly been moved by the changes already implemented, with CDS clearing (possible, amongst other things, as a result of the fungibility created by the dynamic protection period introduced by the Big Bang) now taking hold. Of course, many challenges for the market still remain and many politicians still retain their (often ill-informed) opposition to the use of credit derivatives. But the rapid, industry driven, reform in 2009 has rightly been recognised as a step in the right direction.
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--James Parascandola, co-head of credit derivatives sales and trading at MF Global in New York, after the Dow Jones Industry Average slid nearly 1000 points Thursday and the CDX Investment Grade Index gapped out.
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Hedge funds were buying up one-day and one-week call options on the U.S. dollar against sterling early this morning, as results began to emerge from the U.K. general election pointing to a hung parliament.