During the week of 8 June 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
HLI Operating Company 09-Jun-09 LCDS US
JSC BTA Bank 10-Jun-09 CDS Europe
Georgia Gulf 10-Jun-09 LCDS US
R.H Donnelley Corp. 11-Jun-09 CDS US
General Motors Corporation 12-Jun-09 LCDS, CDS US
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.
