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Market Movers (Free subscription) | 10/13/2008
The DTCC is a reliable source, and it says the Lehman CDS settlement flows on October 21 are going to be small : In November 2006, The Depository Trust and Clearing Corporation (DTCC) established its automated Trade Information Warehouse as the electronic central registry for credit default swaps. Since that time, the vast majority of credit default swaps traded have been registered in the Warehouse...
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Alea (Free subscription) | 10/12/2008
DTCC Addresses Misconceptions About the Credit Default Swap Market The idea that the industry lacks a central registry for over-the-counter (OTC) credit default swaps (CDS) is grossly misleading and has resulted in inaccurate speculation on a number of matters, including the overall size of the market, its role in the mortgage crisis, and the size of [...]
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Guy Fawkes' blog (Free subscription) | 10/13/2008
The unwinding of Lehman's credit default swaps appears to be going well. Market nervousness about systemic risk was said to be at the heart of banks hoarding cash, no financial detonations have been reported. Market authorities reckon the net losses could be as low as $6 billion . Hardly anything...
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Manhattan Real Estate: New York Cit (Free subscription) | 10/13/2008
I have been quiet for a couple of weeks. During this Rosh Hashana/Yom Kippur period when Jews typically ask their family, friends neighbors and maker for forgiveness, I have been asking the financial gods to forgive me for my...
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Seeking Alpha China (Free subscription) | 10/13/2008
The whole world financial market has been in cryogenesis for weeks due to the known unknown of Lehman (LEHMQ.PK) CDS settlement on 10/21. But Saturday DTCC came out with a bombshell revelation: The settlement will net to a measly $6B . Well, according to " calculations so far performed by the DTCC ", that is. Anybody care to hint how far this "so far" is? 10%? 50%? 90%? Complete Story »
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Seeking Alpha China (Free subscription) | 10/12/2008
J.C. Kommer submits: DTCC Addresses Misconceptions About the Credit Default Swap Market: The idea that the industry lacks a central registry for over-the-counter ((OTC)) credit default swaps ((CDS)) is grossly misleading and has resulted in inaccurate speculation on a number of matters, including the overall size of the market, its role in the mortgage crisis, and the size of potential payment obligations...
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Contango (Free subscription) | 10/13/2008
Herd going over the cliff According to this post from the DTCC (The Depository Trust and Clearing Corporation), I learn that only $6 billion are left as open positions on the Lehman credit default swaps, so I correct myself, the...
