End in sight for challenge to fix prices of credit derivatives

NEWS ANALYSIS | PRODUCT LAUNCH | PRICING SERVICE LONG OVERDUE IN CD SPACE

LONDON -- Banks have successfully tested a system dubbed Tradeable Credit Spread Fixings in an effort to fix prices for second-generation credit derivatives. So far four tests have been run with 16 dealer banks in addition to Creditex, an electronic inter-dealer broker, and Mark-it Partners, a provider of consensus credit default swap pricing. The tests have been conducted on the Creditex trading platform with Mark-it Partners acting as auditor of the process.

Those involved describe a 'fixed

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