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ISDA sets auction to settle Ukraine credit default swap transactions
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – The International Swaps and Derivatives Association, Inc. said its EMEA credit derivatives determinations resolved to hold an auction on Oct. 6 to set the settlement price for credit default swap transactions based on the Republic of Ukraine.
As previously reported, the committee found in September that a potential repudiation/moratorium credit event had occurred. The committee has now resolved that a repudiation/moratorium credit event and a failure to pay credit event did occur, according to a Monday press release.
The auction is, as previously decided, being held on an accelerated schedule.
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