CCPs were counterparties to 10.5% of CDS market, BIS says

12/13/2010 | Wall Street Journal, The

At the end of June, central counterparties were counterparties to about 10.5% of the outstanding credit default swaps market, according to the Bank for International Settlements. BIS said the introduction of CCPs and trade compression, which involves replacing existing trades with a smaller number of trades, have been "the most important structural measures implemented in the CDS market to reduce counterparty risk."

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