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RiskVal offers gratis CDS 100/500 coupon conversion service for upcoming CDS Big Bang
The industry is moving very quickly to the CDS "big bang" on April 8th. RiskVal is a premier credit derivatives trading and risk management provider and is offering some free analytical services to the industry to help with the conversion event.
By: David N. W. Sawyer
“The ‘CDS Big Bang’ is expected to be implemented on April 8, 2009. RiskVal, as a leading credit derivative service provider, is proud to offer clients the chance to take advantage of our ‘Re-Coupon’
Traders, portfolio managers, and risk managers wishing to leverage this service should email email@example.com for details. Portfolios sent in for analysis will have each position returned re-couponed into 100 and 500bps fixed coupon standard CDS contracts, maintaining risk profiles, payment schedule, and present value. This analysis offers clients a first look at how their portfolios may be exposed to the benefits of greater trade compression as part of the move to standardized CDS premium payments.
RiskVal’s products and service offerings include RVCredit, the most advanced and comprehensive valuation and risk management system available for proactive risk management of complex credit derivative trading. Other RiskVal products include RVFI, the premier fixed income trading and risk management platform, RiskVal Credit RT, the real time credit monitor, and professional services and consulting operations including EOD P/L production for first tier banks.
RiskVal’s Portfolio Valuation team will assume each position’s notional is $1MM. The newly converted portfolios will match notional with the original CDS positions. Optionally, clients that provide notional will be able to view notional aggregated maturity buckets. The weighted average coupon will result in the same cash flow schedule, with a coupon effective date as of the last IMM maturity date. Risk profiles of the old and new positions will be identical. Coupon cash accruals in the old positions may need to be settled with counterparties independently.
For more information, please see www.riskval.com or contact David.Sawyer@
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RiskVal is the premier provider of fixed income pre-trade, trading, and risk management analytics for traders and risk managers. Our clients are top tier fixed income institutional traders and hedge fund traders and risk managers.