Stock Market News
Derivatives committee to hold Russia CDS auction in September -statement
2022.08.19 23:09
FILE PHOTO: A Russian rouble coin and a U.S. dollar banknote in this picture illustration taken October 26, 2018. REUTERS/Maxim Shemetov
(Reuters) – A panel of investors said on Friday that it expects to hold an auction to settle credit default swaps (CDS) related to Russia’s default in the first half of September, as it continues to work on the auction setup.
The Credit Derivatives Determinations Committee (CDDC) said the exact date is yet to be determined, accoding to a statement on its website.
Russia was declared in default and a failure to pay $1.9 million in interest back in May had already tripped the CDS trigger.
