jklondon

CDS Intermediation Gets Put on ICE but Doesn't Die

good write up - couple of issues/points to add.

- Expect dealers to be pretty strict in collateral requirements with buy-sides through CSA agreements
- Will they net positions thus collateral?
- Segregation + Portability of collateral accounts is key here i.e. if Buy-Side is posting collateral to Dealer-B and Dealer-B goes then the account should move swiftly to Buy-Sides back-up DCM - Dealer C.

Notes on CDS Market, De-Risking and Re-Risking

would be great to get an index of activity in the cds market using dtcc's source, not a difficult job but they dont make the data very easy to manipulate.

CDS Market: It's Crunch Time

senior lehmans bonds trading at about 10cents to the dollar but huge spreads between the dealers

Coming Soon: A Central Clearing House for Credit Derivatives

why not use the DTCC - CCorp tie-up - wont that be the clearing corp of choice??