CDSIndex Volumes: A Year to Date Review
Reading a Bloomberg article today, Swaps Boom is Unintended Consequence of New Curbs on Wall Street, it seems that instead of trading investment-grade bonds themselves investors are increasingly turning to derivatives. The reason given that they cannot get quickly in and out of cash bonds as dealers are pulling back from debt trading. While the figures quoted in […]
CDSIndex On SEF Volumes after MAT
February 27, 2014 was the Made Available Trade (MAT) determination date for CDSIndex contracts based on the TradeWeb submission. Similar to my recent article on Interest Rate Swaps, I will look at what the volumes show. Which products are MAT? Two North American Indices: CDX.NA.IG.5Y and CDX.NA.HY.5Y Two European Indices: iTraxx Europe 5Y and […]
CDSIndex trading on SEF Platforms
As we recently released the CDSIndex product in SDRView Professional, I decided to look at what the SDR data shows. CDS Index NA Lets start with a chart of the daily volumes on 24 Jan 2014, of the major North American indices; IG, HY and EM. This shows the following: IG 5Y (Dec18) has […]
Cleared CDS Index volumes rising ahead of June 10 date
As we have just enhanced our SDR View tool to show Credit trades from DTCC DDR, I thought I would look into the CDS Index trading activity and how it had been impacted by the first Dodd-Frank Act mandatory clearing deadline of March 11, 2013 and the second upcoming deadline of June 10, 2013. Starting […]