The Auction Settlement and Restructuring Supplement to the 2003 ISDA Credit Derivatives Definitions

This note examines the background to auction settlement becoming the method of choice for the settlement of credit default swaps. It explains how the auction settlement process has been hard-wired into ISDA's documentation framework governing credit default swaps and describes the mechanics of the auction process.

David Johnson, First Gulf Bank and James Williams, Citigroup Global Markets Limited


 

The full text of this resource is available by logging in or by requesting a trial. If you have any questions, please contact us or your Practical Law Account Executive.

Free trial

A free trial will give you:

Unlimited access to our online legal know-how services during the trial period
Full training and support
Four issues of Practical Law The Journal, the companion to Practical Law online
Weekly update e-mails on current legal developments in your practice area
 

Log in using Practical Law username

Only use this login if you have not set up OnePass for Practical Law

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247522478061", "objName" : "Auction Settlement and R-Supplement- 2003 ISDA Credit Deriv Defs", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/8-508-0969?source=relatedcontent", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "false", "analyticsPermCookie" : "21ccb896c:154e4742a65:5806", "analyticsSessionCookie" : "21ccb896c:154e4742a65:5807", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }