The Trading Association improves credit default swap information services.

The China Foreign Exchange Trading System Participants Association recently issued a notice on improving the information services for credit default swaps in the interbank market. The notice combines real transaction prices with the optimization of quotation mechanisms, aiming to enhance market pricing capabilities by publishing transaction prices of contract-based credit risk mitigation tools and introducing indicative quotes that can be converted into actual transactions. It also clarifies the rights and obligations of quoting institutions, enriches business information, strengthens self-discipline management requirements, and improves the quality of quotations. Additionally, it optimizes curve generation methods to enhance the quality of quotation curves and focuses on meeting actual needs to reduce the burden on quoting institutions and facilitate quotation operations through the system. In the next steps, the trading association will continue to optimize market support mechanisms, strengthen the application of real transaction prices, enhance market transparency, stimulate market activity, and promote the high-quality development of the market for credit risk mitigation tools.