Best of the Web
Forbes.com, July 17, 2000

Forbes.com has named Creditex as one of the best financial B2B sites on the web.

Chief Executive: John McEvoy and Sunil Hirani

Model: Marketplace

Description: Creditex lets traders buy and sell "credit derivatives," specializing in contracts that let bond holders hedge their exposure in case of a default. For example, when Conseco bonds started looking shaky earlier in the year, traders rushed to Creditex to limit their downside in case of a bankruptcy. One of the newest flavors of derivatives, credit derivatives are now experiencing explosive growth.

Clients: Investment banks, commercial banks, insurance companies, reinsurance companies, hedge funds and money managers.

Buzz: The site just went live in March and has managed to build traffic faster than comparable exchanges. In its first quarter of existence Creditex says it has managed to increase the number of institutional subscribers from 12 to 50 and has completed sales with a notional value of $200 million.

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