Single-Name Corporate Credit Default Swaps: Background Data Analysis on Voluntary Clearing Activity
April 24, 2015
Burt Porter
Abstract:
Title VII of the Dodd-Frank Act mandates the clearing of security-based swaps that the Commission determines should be cleared. Certain security-based swaps of a particular type, corporate credit default swaps (“CDS”), have been accepted for clearing on a voluntary basis since before the passage of the Act and additional contracts have been added to the list of contracts accepted for clearing in the following years. This document provides an analysis of trading and clearing activity for single-name corporate CDS. The purpose of this analysis is to provide background information on voluntary clearing activity of certain single name corporate CDS reported to the Trade Information Warehouse, a service offering operated by DTCC Derivatives Repository Limited.