Europe moves closer to clearing of credit default swaps

06/22/2009 | Bloomberg

Investors and dealers in Europe are moving to meet demands from regulators for central clearinghouse for credit default swaps. Credit-derivatives dealers had agreed to terms that make reducing the number of outstanding contracts easier. The changes are efforts to boost transparency and decrease risk in the derivatives market. "It will be a change for the better, for sure," said Puneet Sharma, head of investment-grade credit strategy at Barclays Capital in London. "Risk will be more manageable, and volumes will be more manageable as well."

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