TriOptima run sees $127 billlion in CDS torn up
Stockholm-based TriOptima said its latest credit default swaps (CDS) tear-up run has eliminated contracts with a notional value of $126.6 billion.
As in previous tearup cycles, eighteen institutions, representing about 90% of the total interdealer market, took part in the exercise.
The tearups represent 19% of the total CDS notional volume in the market at the end of last year, according to figures from the Bank for International Settlements.
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