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Text size [+][-]  Tuesday February 9 2010GLOBAL EDITION

Considered view
10 Oct 2008 08:06

Judgment day

Context News

Markit and Creditex, working with the International Swaps and Derivatives Association, will hold an auction on on October 10 to determine the recovery rate that will set the payouts on credit derivatives referencing Lehman Brothers.

Financial firms are about to learn how much they stand to gain – or lose – on derivatives linked to Lehman’s credit. Lenders expect to recover little on the bankrupt firm’s debt. That’s bad news for credit protection sellers. Here’s how they’ll discover the extent of their woes.

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More stories by:  Dwight Cass






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