Periodical
The Thomson test.
| Τίτλος: | The Thomson test. |
|---|---|
| Συγγραφείς: | Clark, Joel |
| Πηγή: | Risk. Oct2009, Vol. 22 Issue 10, p39-41. 3p. |
| Θεματικοί όροι: | *Debt relief, *Swaps (Finance), *Index mutual funds, *Default (Finance), *Derivative securities, *Bankruptcy, *Finance |
| Γεωγραφικοί όροι: | Europe |
| Εταιρία/Οντότητα: | Thomson Corp. , International Swap Dealers Association |
| People: | America, Guy |
| Περίληψη: | The article focuses on the implications of the small bang protocol on the debt restructuring initiative of media and electronics firm Thomson Corp. on July 27, 2009. It notes that the small bang protocol allows credit default swaps (CDS) to be settled through auction after a restructuring but it created problems to index tranche holders. It states that a restructuring credit event can lead to bankruptcy while the International Swaps and Derivatives Association which originally created the small bang protocol cites that challenge on handling index tranche can trigger further credit event changes. According to Guy America, head of Europe, Middle East and Africa (EMEA) credit trading at JP Morgan, small bang protocol is the best tool to make restructuring work in Europe. |
| Βάση Δεδομένων: | Business Source Index |
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