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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

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…

Federated Investors has appointed Colin Starks senior VP and national sales director of the firm’s broker/dealer sales division. In his nine years with Federated, Starks has served in a managerial capacity, first as regional manager and later as national account manager in the B/D area. Prior to joining Federated in 1998, Starks had 15 years of sales, marketing, and executive management experience with IBM. Starks will replace Richard Boyd, who will now focus on growing Federated’s $72 billion B/D retail cash management business…

The Investment Management Consultants Association (IMCA) has named Garry Bridgeman, a private wealth advisor and first VP of investments with the Private Banking & Investment Group at Merrill Lynch in Atlanta, president for 2008–2009. Betsy Piper/Bach was named VP of IMCA, and board members John Granzow and Sam Paglioni were elected to the positions of treasurer and secretary, respectively. In addition, three new members were elected to the IMCA board: Jeffrey Carlin, VP of investment management services with Charles Schwab & Co. Managed Accounts; Claudia Cypher, VP and senior financial consultant with Wells Fargo Investments; and Scott Thayer, senior VP for investments and institutional consulting for Citigroup Institutional Consulting. Each new IMCA board member will serve a two-year term beginning January 1, 2008.


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