Increased overlap

Increased overlap

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CDS CCP to lower barriers to entry

Analysts expect the introduction of a CDS central counterparty to lower the barriers to entry for cash market investors. But, as a number of exchanges prepare to launch index CDS clearing services, the approach for single name CDS remains unclear.

Alberto Gallo, US credit and credit derivatives strategist at Goldman Sachs, believes that stabilisation in the CDS market due to the introduction of a central counterparty should increase the overlap between the cash and synthetic investor bases.

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