Press release
November 13, 2006
TriOptima offers reconciliation and termination opportunity for Dura-linked CDS transactions
TriOptima is currently offering its subscribers a reconciliation cycle for both single name CDS and index tranche CDS referencing Dura prior to the auction scheduled for November 28th. In addition, a termination cycle for index trades referencing Dura will be executed on November 16th. Subscribers will be able to continue to reconcile index transactions on the TriOptima website until the auction as well.
Dura is the latest in a series of default-driven termination cycles that TriOptima has offered since the first default of CKC in 2005. Dealers have come to rely upon TriOptima to assist with the reduction in operational and administrative exposure during default situations in the CDS market both with its targeted termination cycles and its open reconciliation functionality.