Feds Closer To Setting Up CDS Clearing Houses - CNBC
"By establishing the central clearing houses, if it is done correctly, there will be an honest recognition of capital allocation to every credit default swap contract that gets written," said Cawley.
IDX Capital
completes its acquisition of IDX Derivatives,
LLC
IDX Capital, an interdealer broker of credit
derivatives (CDS) operating in the over-the-counter
market, announced today it received approval
from the NASD to complete its acquisition
of IDX Derivatives, LLC, an NASD member
firm.
James Cawley, Chief Executive Officer, said
“We are excited to complete our acquisition
of IDX Derivatives, LLC. Such a transaction
will also allow us to better serve the needs
of our clients in an ever competitive landscape.”
Launched in December 2005, IDX Capital
was the first interdealer broker of credit
derivatives swaps to offer a hybrid screen/phone-based
trading platform in conjunction with an
“aggressor-only” brokerage.
Mr. Cawley noted, “In only three months,
we have seen significant acceptance of our
platform from our clients who are now benefiting
from lower transaction costs. We expect
the trend to continue as we continue to
take market share.”
