1. Dual Auction Timeline Subordinate Auction Senior Auction
Open Interest Inside
Market Midpoint
Adjustment Amount
PUBLISHED
9.45
10.00
SUBMIT
Valid Inside Market Submission
Dealer Physical Settlement Req
Customer Physical Settlement Req
11.00
Adjustment Amount
12.00
Senior Auction
Initial Bidding Period
Limit Bids / Limit Offering
(Dealer & Customer)
Subsequent Bidding Period
1.00
2.00
Final Price etc……
3.00
Final Price
11.15
11.30
10.45
This timeline is a summary of certain settlement procedures set forth in the 2006 Dura CDS Protocol (the "Dura Protocol"), as published by the International Swaps and Derivatives Association, Inc. on November 8, 2006, and is provided for information purposes only. It does not summarize all provisions set forth in the Dura Protocol. The user must refer to the Dura Protocol itself for the specific details concerning the auction timeline and other elements of the Dura Protocol.
Copyright © 2006 by International Swaps and Derivatives Association, Inc.