As the CDS market evolves to trade single name contracts with a fixed
coupon and upfront payment, it is critical for CDS investors to match the upfront
payment amounts and to be able to translate upfront quotations to spread quotations and
vice versa in a standardized manner.
One of the primary goals in making the code available is to enhance
transparency and to optimize use of standard technology for CDS pricing. Implementing
the ISDA CDS Standard Model and using the agreed standard input parameters will allow
CDS market participants to tie out calculations and thus improve consistency and reduce
operational differences downstream.