Email Contact Phone Company Visit Website

New York Office

40 Fulton Street 11th Floor
New York

Location Office

Charlotte House, 47-49 Charlotte Road

London Office

Broken Wharf House 2 Broken Wharf High Timber Street


020 7890 5094


Teresa Chick
[email protected]
Back to all IHS Markit announcements

Creditex and Markit to Conduct First Credit Event Auction in Chinese Corporate Credit Market

IntercontinentalExchange’s Creditex subsidiary and Markit will conduct a Credit Event Auction to facilitate settlement of credit default swaps (CDS) trades on Sino-Forest Corp. on May 9 2012. This will be the first credit event auction to be held in the Asia ex-Japan market.

Earlier this year, the International Swaps and Derivatives Association, Inc. (Isda) determined that a credit event had occurred with respect to Sino-Forest Corp., a Chinese forestry company. The auction will serve to determine the final price on Sino-Forest bonds for the purpose of settling CDS transactions.

The Credit Event Auction process was launched in 2005 by Markit and Creditex in collaboration with Isda and major credit derivative dealers. Since then, Markit and Creditex have conducted over 120 Credit Event Auctions, and the process has become an integral part of CDS market infrastructure.