Push Sputters for Credit-Default Swap Futures
By Serena Ng
Published February 02 2012 Wall Street Journal
A push by Wall Street banks to devise a more-transparent way to bet on bond defaults has stalled amid uncertainty over new regulations and difficulties in devising the product. The effort, which began in mid-2010, was designed in part to meet regulators' calls for changes in the derivatives market and to generate a new source of revenue for banks that have seen their trading profits dwindle since the financial crisis.
