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Volumes Are Down

21 February 2017 by lberuti

In their effort to improve transparency on the CDS market, Hellebore Technologies are publishing for free on this site daily information on prices of single name CDS and credit indices. They have also been using statistical data – volumes traded on credit derivatives - that were made available to the general population by trade repositories. Their main source of information was DTCC, where most of the CDS trades are reported. The data used to be released by DTCC once a week, with a 3-day lag. That was good enough to get an idea of what was going on the market, without being too demanding on DTCC. So it came as a surprise when DTCC announced that they had stop releasing information about volume in a timely manner effective end of January. What initially started as an initiative to increase transparency on the CDS market is turning into a money making operation. Volumes will still be available but for a fee. From now on, you will only get for free data which are a month old. That is the reason why volumes appear frozen since early February on all our grapples.