Delta Reveals Crack in CDS Edifice Over Settlement Means
Euroweek- October 14, 2005
The industry is discussing cash versus physical settlement for Delphi. Meanwhile, Creditex and Markit held a fixing on
defaulted bonds of Delta Air Lines and Northwest Airlines. Ten shops participated in the Delta auction and seven in the Northwest
auction. Mazy Dar, head of electronic platforms at Creditex, said that the fixings were significant because "the industry
got together to make it happen." Dar also cited the fact that the fixings process has worked well and it is a method
that is "transparent and tested."
