Creditex and Markit credit fixings used for Delta and Northwest
Risk News- October 11, 2005
The story indicates that Creditex and Markit, in conjunction with major dealers, held a credit event fixing to generate
cash settlement prices for Delta Air Lines and Northwest Airlines due to bond defaults. The Delta bonds were fixed at 18%
and Northwest were at 28%. The fixings are used as part of the protocol developed by ISDA to enable institutions to amend
their documentation for index trades from physical to cash settlement.
