Now Part of ICE, Creditex Sees Bright Future in OTC Derivatives

September 2008
Securities Industry News;9/15/2008, Vol. 20 Issue 32, p1
Trade Publication
The article discusses the successful portfolio compression of single-name credit default swaps (CDS) undertaken by Creditex Group on a platform in partnership with Markit Group. The compression reduces operational risks by replacing existing trades with a much smaller number of transactions. U.S. dealers say compressible contracts declined by 56% while European dealers achieved 53% reduction of contracts. Creditex chairman and chief executive officer (CEO) Sunil Hirani says this is a major milestone of collaborative partnership with the dealer community.


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