The New Face of Credit Default Swaps: Auction Hardwiring and the Determinations Committee - Teigland-Hunt LLP Client Alert

Abstract: On March 12, 2009, the International Swaps and Derivatives Association, Inc. (ISDA) published documentation to allow the incorporation of an auction settlement mechanism into standard credit default swap (CDS) transactions. The auction settlement method has been perceived by regulators as critical to the proper functioning of the CDS market as a whole.