Big change for credit default swaps

The credit derivatives market has grown so fast that it outgrew its nascent infrastructure all too quickly. Last year, 14 top dealers committed to the New York Fed to cut trade processing backlogs, improve industry practices and invest in automating the market. A big move is about to take place--a switch to cash settlement of all trades. Let's hope it goes painlessly.

> Here's an Investment Dealers' Digest article. (exclusively for FierceFinance readers)