News Updates
Oct 1, 2013

Effective October 1st, 2013, The Association of Banks in Singapore will discontinue publishing the 2MO, 9MO and 1Y tenor SOR rates for the SGD currency. As a result of this change, Interest Rate Curves for SGD that are published on https://www.markit.com/news/InterestRates_CCY_yyyymmdd.zip will no longer contain the 2MO, 9MO and 1Y tenors.

Also please note that SGD Interest Rate Curve publication time has been moved from 10:30 to 13:30 London local time.

New sample files:

Click here for additional information.

SGD Interest Rate Curve
 
May 24, 2013

Effective June 3rd, 2013, British Banking Association will discontinue publishing 9MO tenor LIBOR rate for USD, GBP and CHF currencies. As a result of this change, Interest Rate Curves for USD, GBP and CHF that are published on
https://www.markit.com/news/InterestRates_CCY_yyyymmdd.zip will no longer contain the 9MO tenor.

New sample files:

USD Interest Rate Curve
GBP Interest Rate Curve
CHF Interest Rate Curve

Click here for additional information.

 
March 25, 2013

An updated version of ISDA CDS Standard Model was adopted by the industry on March 22, 2013, with an implementation date of March 25th. It incorporates the following:

Efforts by the industry to standardize trading of single names pre and post default (EDD Functionality). Click here for additional information.
Resolving a numerical noise issue in certain edge cases. Click here for additional information.
 
April 28, 2011

With the expectation that at a future point in time cleared instruments will settle T+1, rather than the current T+3 standard, the ISDA Credit Steering Committee recommends that calculators and converters using the ISDA CDS Standard Model (http://www.cdsmodel.com/) are updated as soon as practicable to reflect the optionality introduced by this choice of settlement method.

If you have any questions around this change, please post them through the public discussion forum on the CDS model website.

http://forum.cdsmodel.com/mvnforum/mvnforum/index
 
March 26, 2010

The new 'Bullet Syndicated Secured Loan Credit Default Swap' contract is scheduled to launch on 5-April. This will coincide with the rolling of the Markit LCDX.NA Index. The new Bullet LCDS will be a 'Standard' Contract trading with a full first coupon, accruing from the previous quarterly roll date (20-Mar / Jun / Sep / Dec). There will be four available coupons, paid quarterly: 0, 100, 250 and 500 basis points (bps), with most of the liquidity expected to be at 250 bps. From Series 14 onwards, LCDX will also trade with a full first coupon, fixed at 250 bps for the new Series. The ISDA CDS Standard Model will be used to calculate fees for the Single Name and Index contracts, using a 70% recovery assumption. The Markit CDS Converter at http://www.markit.com/cds supports these calculations.

 
October 5, 2009

The ISDA Credit Steering Committee recommends the use of the ISDA CDS model for all fee calculations starting on Monday, June 1, 2009. The recommendation covers single-name corporate (bond and loan) and sovereign CDS for all regions and currencies and CDS index swaps including but not limited to Markit CDX and iTraxx and MCDX for all regions and currencies. The specification of the ISDA model for fee calculations is available at http://www.cdsmodel.com/. The intent of this recommendation is to complete the transition to the ISDA CDS model begun with the earlier recommendation for CDX contracts. Implementations such as the Markit Converter and Bloomberg's CDSW will by default use the ISDA CDS model and related standard settings starting on June 1.

 
June 9, 2009

For users accessing the USD interest rates from the following file https://www.markit.com/news/InterestRates_yyyymmdd.zip, please be advised that the file will be discontinued as of June 12, 2009. Users should access USD interest rates from the following file: https://www.markit.com/news/InterestRates_USD_yyyymmdd.zip.

 
May 20, 2009

The ISDA Credit Steering Committee recommends the use of the ISDA CDS model for all fee calculations starting on Monday, June 1, 2009. The recommendation covers single-name corporate (bond and loan) and sovereign CDS for all regions and currencies and CDS index swaps including Markit CDX and iTraxx for all regions and currencies. The specification of the ISDA model for fee calculations is available at www.cdsmodel.com. The intent of this recommendation is to complete the transition to the ISDA CDS model begun with the earlier recommendation for CDX contracts. Implementations such as the Markit Converter and Bloomberg's CDSW will by default use the ISDA CDS model and related standard settings starting on June 1.

 
May 5, 2009

The ISDA Credit Steering Committee recommends the use of the ISDA CDS model for calculations regarding Markit CDX Index trades starting on Thursday May 7, 2009. In order to facilitate the transition, implementations such as the Markit Converter and Bloomberg's CDSW will by default use the ISDA CDS model and related standard settings. It is recommended that standard interest rate curve fixing for various currencies like EUR, GBP, JPY (similar to USD) be used while calculating unwind, assignment and upfront fees.

Copyright © 2009 Source: ISDA and Markit Group Limited. All rights reserved.