• Dec
  • 22
  • 2008
  • 8:02 AM

First to Market: 'NYSE Euronext's Liffe Launches CDS Unit'

By: Ray Pellecchia
File Under: Liffe derivatives

NYSE Euronext's Liffe launches CDS clearing unit (Reuters.com) Excerpt:
Derivatives business Liffe on Monday became the first exchange to offer clearing of credit default swaps index trading in Europe as regulators push to improve stability in the CDS market.
The CDS clearing offered via Liffe's Bclear -- owned by NYSE Euronext and LCH. Clearnet Ltd -- will initially cover the Markit iTraxx Europe, Market iTraxx Crossover and Markit iTraxx Hi-Vol indices. "This important launch delivers one of the highest financial priorities for governments and regulators globally," Duncan Niederauer, Chief Executive Officer of NYSE Euronext, said in a statement.

First to market -- nicely done, my LICs (Liffe-innovating colleagues). Here's our press release on the same subject.

I have a day off today, so posting will probably be quiet here. Have a good Monday.

On This Day in 2002 (NYTimes.com), Joe Strummer of the Clash died at age 50, way too young.

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