CDS on Greece continue to be traded after ISDA decision

03/12/2012 |

The International Swaps and Derivatives Association ruled Friday that Greece's debt restructuring constitutes a credit event, triggering payouts on credit default swaps covering the country's bonds. On Monday, however, market participants continued to trade Greek CDS. "Trading represents what people think the recovery value will be," said Gavan Nolan, Markit Group's director of credit research.

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