Is There a Future for Credit Default Swap Futures?

Or Shachar

No 20141222, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Last year, IntercontinentalExchange (ICE) launched a credit default swap index futures contract. In the first two weeks there were spurts of interest in it, but soon it became evident that the new product was unable to generate sufficient demand. Given their short life span in the credit default swaps (CDS) market, the question becomes why were these futures contracts launched in the first place? And, assuming that they were created in response to a real need of market participants, will we see a revival of swap futures in the future?

Keywords: Financial Innovation; Swap Futures; CDX Index (search for similar items in EconPapers)
JEL-codes: G1 (search for similar items in EconPapers)
Date: 2014-12-22
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