Depository Trust & Clearing Corp, the main US clearing house for equities, bonds and over-the-counter derivatives, announced on Friday it would begin publishing market data on credit default swaps today (Tuesday November 4).
The move addresses the widespread concern among regulators and politicians about the opacity of the CDS market, which has grown to a huge size, estimated at $55tr globally, but with far less information publicly available than on stockmarkets.
Once a week, the DTCC will publish the outstanding notional values (‘stock’ values) of CDS contracts registered in its Trade Information Warehouse, as well as trading volume, or ‘turnover’.
It will declare gross and net notional outstandings for the top 1,000 single name reference entities and for all indices. DTCC will also compile certain aggregates of this data, on a gross notional basis only....