Creditex Takes Stake in TSI for Loan Settlements
Securities Industry News - May 14, 2007
Creditex Group, a leader in credit default swaps trading and execution, said it purchased a minority stake in Trade Settlement
(TSI) to capitalize on future growth in loan-only credit default swaps (LCDS). In addition, there will be an alliance between
TSI and Creditex's post-trade workflowaffiliate, T-Zero®. TSI specializes in settlement services for the global primary and
secondary syndicated loan markets. TSI is seeking to grow its post-trade processing platform to Europe. The story says another
reason that its tie-in with TSI is timely is the expected launch of LCDX, a credit default swap index that will consist of
100 reference entities, referencing first-lien loans.
