Banks Plan To Settle Default Swaps in Cash, Avoid Squeezes
Bloomberg - February 17, 2006
The article discusses ISDA's plan to settle defaults in cash. The article mentions the expansion of the market and the
need to adopt new ways of working to avoid squeezes in the market in light of a credit event. Creditex CEO Sunil Hirani is
quoted in the article citing the merits of cash settlement as a prudent approach to settling positions in defaulted bonds.
