Markit and Creditex, in partnership with nine major credit derivative dealers, have successfully conducted a Credit Event Auction to facilitate the settlement of credit derivative trades referencing Tembec Industries Inc., a unit of Tembec Inc. At 2:00 pm EST today, the final price was fixed at 83.00%. Markit and Creditex are the official administrators of Credit Event Auctions.
Calming the Derivatives Hysteria
Sean Sprackling, partner at Investment Solutions Consultants urges participants not to lose faith in derivatives. The events…