Banks see single-name CDS as a possible growth industry

02/24/2014 | Reuters

Wall Street banks are hoping to succeed with single-name credit default swaps where they failed with electronic bond trading. "We think that moving CDS credit clearing to a central counterparty gives rise to a more specific use of CDS as a rating enhancement tool," said Citigroup's Peter Aherne. Some say the Volcker rule may play a contributing role in that anticipated success as it may spur the use of CDS.

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