Credit-derivatives industry poised for major changes

03/11/2009 | Financial Times (free content)

The International Swaps and Derivatives Association is set to introduce changes to the most common type of credit derivatives, credit default swaps. The changes, which include rules to determine payout after a default, will simplify clearing in the U.S., but regulators in Europe will still need to determine clearing rules. "The corporate CDS market is going through one of its most important structural shifts since its inception over a dozen years ago," Morgan Stanley analysts said.

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