With the addition of key indexes, the Creditex RealTime electronic platform began executing trades for the most liquid Investment Grade (IG) and High Yield (HY) series of CDX indexes on 7 March 2011.
Since the introduction, over 80% of the CDX index trades arranged by Creditex have been executed on the Creditex RealTime platform.
Creditex president Grant Biggar said in the liquid CDS products, trade execution and transparency are enhanced with electronic execution, along with improvements in efficiency and accuracy for post-trade processing.
"Trades are submitted via ICE Link for straight through processing, and are eligible for central clearing through ICE Trust. Notably, this is the workflow we anticipate will be at the core of the swap execution facility (SEF) rules once they are finalized," Biggar said.
Acquired by ICE in 2008, Creditex is an innovator in the CDS execution markets with a hybrid model of voice and electronic execution.
