CDS MARKETPLACE
CDS marketplace information website launches
This week saw the launch of ISDA CDS MarketplaceSM (www.isdacdsmarketplace.com), a
website that brings together information, data and statistics on credit default swaps. The
site aims to be a clear and accurate destination for information about CDS, which have
been the subject of much conjecture in the wake of the global financial crisis.
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US REGULATORY
ISDA comments on proposed legislation
On August 11, the Obama administration detailed their draft legislation for oversight of the
derivatives market. The proposal has been sent to Congress for consideration. The 115-page
draft requires that standardized derivative contracts be processed through clearinghouses.
The draft also proposed spreading regulatory powers, largely to the Securities and Exchange
Commission and the Commodity Futures Trading Commission.
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for more on this story]
EUROPE
Central clearing of CDS in Europe
As of July 31, CDS relating to European entities and indices started clearing through EU regulated
central counterparties. This standardization increases market transparency,
robustness and confidence, and will reinforce financial stability by ensuring better
risk management for European CDS. The move comes in response to the European
Commission’s call for one or more central counterparties to be established and regulated
in the EU by the end of July. Ten major dealers committed to Commissioner McCreevy’s
deadline.
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