During the week of 26 May 2009, Markit and Creditex will conduct credit event auctions to facilitate settlement of credit derivative trades referencing the following companies:
Name Auction Date Auction Type Region
Syncora 27-May-09 CDS US
Edscha 28-May-09 LCDS Europe
For credit event auction schedules and results, please see www.creditfixings.com.
The credit event auction process was launched in 2005 by Markit and Creditex in collaboration with the International Swaps and Derivatives Association and major credit derivative dealers. Since then, Markit and Creditex have conducted over 55 credit event auctions, and the process has become an integral part of CDS market infrastructure.