ISDA Planning Biggest Overhaul to Credit Derivatives Since 2003
By Abigail Moses
Published March 5, 2013 Bloomberg
The International Swaps & Derivatives Association is planning the biggest overhaul of the $24 trillion credit derivatives market since 2003.
New York-based ISDA is seeking feedback from market participants on a set of possible changes to the standards governing credit-default swaps, including plans to ease settlement of contracts triggered by a sovereign debt exchange, according to Mark New, the organization’s assistant general counsel in the Americas.