Delphi Bond Price Auction A 'Milestone'
Financial Times - November 5-6, 2005
An auction to set the price of Delphi bonds went smoothy, thus allowing "thousands of credit derivatives transactions
to be settled with cash" rather than with bonds. This relieved a potential shortage of Delphi bonds. The process could
represent a new model for the industry, which has lacked a permanent cash settlement mechanism. The story says that a total
of 575 trading entities agreed to adopt ISDA's protocol for Delphi. The Delphi auction also allowed participants to transact
bonds.
