Presentation: ISDA Symposium
March 22, 2007
The U.S. Loan Credit Default Swap Market and ISDA Documentation
Location: Global Financial Markets Conference Center, New York, NY
Jon Kibbe was one of the speakers discussing this topic at the ISDA Symposium.
This Symposium focused on the rapidly developing market in the United States for loan credit default swaps. ISDA published documentation for the single name product in June 2006. In March 2007, ISDA published the U.S. loan index documentation. The U.S. loan index, referred to as LCDX, consists of 100 Reference Entities and is subject to settlement by an auction, similar in nature to those auctions conducted for settlement of credit derivative transactions in 2006.
A discussion of the business prospects for the single and index products and the potential appeal to a broad investor base was discussed. In addition, a detailed discussion of the critical documentation components of the single name and index products and information on the polling related to the products was offered.
