Euro Sov CDS Update: Calm [Before|After] The Storm

Tyler Durden's picture


  • MAIN    -4.25        XO -19           SOVX  240/243    


  • ZAPETERO: -13
  • COELHO: -15
  • G-PAP: unch
  • LETERME: -16
  • SARKOSY: -2
  • FAYMAN: -7
  • CAMERON: -3
  • GUINNESS: -40
  • MERKEL: unch
  • TOVARISH: 186/190  -29
  • JASON STATHAM IN SNATCH: 236/240  -12

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speconomist's picture

I asked about this the other day,  but didn't get an answer:

Is there any retail platform or broker that allows trading with CDS?

speconomist's picture

I am just a forex trader, that's the reason I have to ask.


I guess maybe InteractiveBrokers offers something like this, but I am curious to discover what do you guys use.

ZeroPower's picture

HFs are basically treated as retail here except retail that has lots and lots of ££..

So the question is, can you access decent capital and commit to a relationship with a credit desk that makes markets in CDS?

You don't simply open up your trading platform and get a bid/ask - not to tradeable anyway. CDS are quoted in 'runs' that flow guys on the sell side send out to trusted people at other firms which might have an interest in hitting their prices either way. 10MM notional is common, upfront really depends on the entity.

Also, due to b/a spreads still being rather wide, you dont simply daytrade in and out of a position as you would in a 100lot of AAPL which you got at a penny wide spread.

ZeroPower's picture

Title basically fits the mood here. Flow (credit, cash bonds as well) guys having very little volume all morning. Noone seems to be making bets in either direction, rather, waiting for another catalyst..perhaps the Sarkozy-Merkel meeting tomorrow. Little movement in US fin'l CDS but slightly tighter.

JOYFUL's picture

 "If a society witlessly abandons all ties to tools of actual production, and responsibility for acts which have meaning in real life context as they effect others, (see NATO terror campaigns) there is a limited time in which their ‘actual’ existence will be able to continue."

“… all contents of meaning are absorbed in the only dominant form of the medium. Only the medium can make an event – whatever the contents, whether they are conformist or subversive."

Although unannounced by the organs of 'hyperreality' which will continue to broadcast long after their sponsors have already shut down, the Euromerikan zone has now already disappeared... you are hearing (and reading) only ghost like echoes of an expired civilization. 

-end of transmission- 

virgilcaine's picture

retail wants a part of cds trading?  sp 700 here we come.

breezer1's picture

i have a shoe shine business, can i get some of those cds thingies? can i get them with 2% down?

IMA5U's picture

everything is better again


keep on buying