Credit derivatives House of the Year - Goldman Sachs

The credit derivatives market has been innovating at a breakneck pace. As the new kid on the block, the asset class has rushed to catch up with its older cousins, the interest rate and currency derivatives markets, and each year has seen an array of innovative, new-fangled products, bigger and bigger deals, and soaring volumes. That all changed last year. The rise in delinquencies in the subprime market, mass downgrades and tumbling valuations meant investors had one thing on their mind -