Argentina CDS transactions to be settled via auction

By Jennifer Chiou

New York, Aug. 1 – The Republic of Argentina’s credit default swap transactions will be settled at an auction after the International Swaps and Derivatives Association, Inc. determinations committee said that a failure-to-pay credit event has been declared.

According to a press release, Argentina is a constituent of series 4 to 21 of the Markit CDX EM, series 18 of Markit CDX EM ex-EU and series 4 to 12 of Markit CDX EM Div indexes. It will be removed from these index series.

Further information on the auction will appear on www.isda.org/credit.

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