Standard & Poor’s is set to launch three U.S.-based Credit Default Swap (CDS) indexes which wil be focused on the $28.8 trillion Credit Derivatives Market. The S&P U.S. Investment Grade CDS Index will consist of 100 equally weighted investment grade U.S. corporate credits, the S&P U.S. High Yield CDS Index will consist of 80 equally weighted high yield U.S. corporate credits, and the S&P 100 CDS Index will consist of the 80-90 members of the S&P 100 Equity Index that have CDSs with sufficient liquidity. The weight of each constituent in the 100 CDS Index will correspond to its weight in the 100 Equity Index (based on float-adjusted equity market capitalization). When the S&P U.S. CDS Indexes are launched during the first quarter of 2008, the complete methodology for will be available at www.standardandpoors.com/indices …
Fidelity Capital Markets Services has expanded its liquidity aggregation network with the addition of 13 new trading partners to its DarkSweep and CrossStream platforms, resulting in a total of 17 third-party firms. Nine new trading venues have been added to DarkSweep, Fidelity’s liquidity aggregation network, including BIDS Trading, Credit Suisse, ISE Stock Exchange, Citi’s Lava Technology, LeveL, Liquidnet H2O, Nasdaq, and NYSE Arca. Fidelity also has linked six new trading partners to its CrossStream alternative trading system, including Credit Suisse, JPMorgan, Neovest, and Townsend Analytics…