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Tag Archive: credit derivatives


Why Derivatives ?

The whole world is waiting for the Indian Election results 2014, probably this is the first time in my knowledge people are so blogexcited and the lead news channels have upgraded their webpages for a day ;).

Moving back to topic on understanding of derivatives and some remarks made on them:-

Worldly wisdom teaches that it is better for reputation to fail conventionally that to succeed unconventionally”

Life is either a daring adventure or nothing. Security does not exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run than exposure.

I can calculate the motions of the heavenly bodies, but not the madness of the people. After Isac Newton lost money in the market. Continue reading

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Was thinking to do the post in the morning but had enough evidence to share it now.
The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved unanimously that a Restructuring Credit Event has occurred with respect to The Hellenic Republic (Greece).

The EMEA DC resolved that a Restructuring Credit Event has occurred under Section 4.7(a) of the ISDA 2003 Credit Derivatives Definitions (as amended by the July 2009 Supplement) following the exercise by The Hellenic Republic of collective action clauses to amend the terms of Greek law governed bonds issued by The Hellenic Republic such that the right of all holders of the Affected Bonds to receive payments has been reduced. The details are available on ISDA website .

It means there will be a net $3.2bn pay-out on CDS contracts, Continue reading

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