The DTCC, in an effort to clear the air around derivatives, has published a list of all the reference entities in its trade information warehouse.
You can see the list here. Below, though, are a few choice names we’ve selected out of interest. The first number is the gross notional value of CDS contracts outstanding. The second number is the notional net value: the number of one sided positions.
Large numbers throw up problems: the larger the gross number, the more strain is placed on the settling system. The larger the net number, the larger the hit to specific players in the market who have written unhedged protection and must deliver. That said, LEH had a gross notional of $70bn, and the auction was conducted with relative decorum.
Oh - and the final number is the actual number of contracts written.
___________
Citi: 65,693,195,181 // 6,094,579,421 // 6,463
Credit Suisse: 24,369,070,729 // 5,822,862,929 // 2,386
Deutsche Bank: 68,785,417,264 // 12,449,401,666 // 5,910
GE Capital: 86,003,350,507 // 12,153,297,831 // 8,457
Morgan Stanley: 91,941,632,210 // 8,361,620,604 // 9,913
Russia: 110,068,180,097 // 8,306,875,852 // 7,651
Spain: 61,362,202,916 // 16,648,584,672 // 1,899
Goldman Sachs: 92,776,829,418 // 6,944,435,432 // 9,793
RBS: 34,765,506,806 // 5,270,115,478 // 3,438
UBS: 30,312,911,490 // 6,009,533,963 // 2,844
Vodafone: 43,169,370,013 // 4,564,258,386 // 4,749
Volkswagen: 49,542,097,529 // 3,973,818,504 // 5,321
Wachovia: 44,986,862,550 // 4,049,132,094 // 5,575
Wells Fargo: 45,746,278,232 // 3,756,744,334 // 5,011
_____
Related links
Credit swaps top $33 trillion, Depository Trust says - Naked Capitalism
“The future of the financial world hinges on Italy and Spain not defaulting” - FT Alphaville
