Following a decision by the International Swaps & Derivatives Association’s (Isda) Determinations Committee that a Restructuring Credit Event occurred with respect to The Hellenic Republic, Markit and IntercontinentalExchange’s Creditex subsidiary, will hold a Credit Event Auction to settle Credit Default Swap (CDS) trades on the country’s sovereign debt on March 19, 2012.
Information about the auction and the decision of the Determinations Committee can be found here.
For general information on Credit Event Auctions please see the Credit Event Auction briefing document (also available in French, Greek and Spanish).
