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CDS

In a credit default swap, or CDS, one party (the protection buyer) agrees to pay another party (the protection seller) periodic fixed payments in exchange for receiving credit event protection, or a payment, should a third party (the reference entity) or its obligations suffer one or more pre-agreed adverse credit events over a pre-agreed time period. In addition, it is possible to trade CDS swaptions or options, which give the buyer the right to sell protection – or conversely the seller to buy protection – via a CDS on, or before, a pre-agreed date at a pre-agreed price.


  • Risk transfer round-up - 16 November

    Capital relief trade sector developments and deal news

    Deutsche Bank is rumoured to be executing a bilateral trade finance capital relief trade from its TR...

    News    16 November 2018
  • Dual speed

    Standard Chartered follows with tranche carve-up

    Standard Chartered has completed a US$297.5m financial guarantee that references a US$3.5bn trade fi...

    News Analysis    14 November 2018
  • Tranche tinkering

    US RMBS market update

    Freddie Mac has restructured some of the mezzanine tranches in its most recent credit risk transfer...

    Market Reports    14 November 2018
  • Stress test

    IFRS 9 impact limited

    The EBA’s recent stress tests point to a limited capital impact from the implementation of...

    News Analysis    9 November 2018
  • Leveraged loan CRT prepped

    Risk transfer sector developments and deal news

    Deutsche Bank is believed to be readying a leveraged loan capital relief trade for 4Q18. According t...

    News    9 November 2018
  • Risk transfer round-up - 2 November

    CRT sector developments and deal news

    Santander is believed to be readying two consumer capital relief trades and a corporate deal to prin...

    News    2 November 2018
  • Market moves update

    Company hires and sector developments in structured finance

    Acquisitions Lennar Corporation has agreed to sell its Rialto Investment and Asset Management busi...

    Market moves    31 October 2018
  • Mixed outlook

    Risk transfer diversity set to increase

    The outlook for risk transfer issuance volumes is mixed, according to panellists at SCI’s...

    Talking Point    26 October 2018
  • Risk transfer round-up - 19 October

    CRT sector developments and deal news

    Credit Suisse is believed to be readying a Swiss corporate deal from its Elvetia programme. The issu...

    News    19 October 2018
  • Latest SCI podcast now live

    SCI podcast episode two has been released

    SCI’s latest podcast is now live. This month the team discuss the African Development Bank...

    News    18 October 2018
  • Market moves update

    Company hires and sector developments in structured finance

    CRT poll results The results from SCI’s ‘What’s in a name?’...

    Market moves    17 October 2018
  • Second wave

    Synthetic CRE transactions launched

    Santander and NatWest have completed two commercial real estate risk transfer transactions and the m...

    News Analysis    15 October 2018
  • Risk transfer round-up - 12 October

    CRT sector developments and deal news

    Deutsche Bank is believed to be prepping a trade finance transaction from its TRAFIN risk transfer p...

    News    12 October 2018
  • Trading opportunities

    Credit risk transfer continues to evolve

    Freddie Mac’s recent STACR 2018-DNA3 RMBS marked a further evolution of its credit risk tr...

    News Analysis    9 October 2018
  • SCI Start the Week - 8 October

    A review of securitisation activity over the past seven days

    Market commentary The European ABS primary market saw a lull in activity last week, which left some...

    News    8 October 2018
  • Market moves - 5 October

    New hires and company developments in the structured finance sector

    Europe Apollo Global Management has named Brigitte Posch md, head of emerging markets in London. S...

    Market moves    5 October 2018
  • Compliance costs

    Private securitisations caught by disclosure requirements

    ESMA’s regulatory technical standards (RTS) regarding securitisation disclosures (SCI 6 Se...

    News Analysis    5 October 2018
  • Risk transfer round-up - 5 October

    CRT sector developments and deal news

    BNP Paribas is rumoured to be readying a replacement trade for a risk transfer transaction that it c...

    News    5 October 2018
  • Regulatory boost

    Positive prospects for project finance CRTs

    Santander has completed Fitzroy 2018-1 CLO, a financial guarantee and significant risk transfer tran...

    News Analysis    3 October 2018
  • Risk transfer round-up - 28 September

    CRT sector developments and deal news

    Santander is believed to be the third capital relief trade issuer readying a commercial real estate...

    News    28 September 2018
  • Risk transfer return

    Standard Chartered completes trade finance CRT

    Standard Chartered has printed its first capital relief trade in three years, dubbed Trade Finance T...

    News    27 September 2018