• Credit Event Advisory- Credit Event Declared for Energy Future Holdings Corporation

      • To
      • CDS Market Participants
      • From
      • CME Clearing
      • #
      • 14-177
      • Notice Date
      • 30 April 2014
      • Effective Date
      • 30 April 2014

    • The ISDA Determinations Committee has determined that a Bankruptcy Credit Event occurred with respect to Energy Future Holdings Corporation.  See the following: <<<http://www.isda.org/credit/>>>.  The Event Determination Date is April 29, 2014.

      The Energy Future Holdings Corporation is referenced in the following CME cleared CDX North American High Yield Indices:

      CDXHY11V21.SR.XR.USD

      CDXHY12V12.SR.XR.USD

      CDXHY13V6.SR.XR.USD

      CDXHY14V5.SR.XR.USD

      CDXHY15V5.SR.XR.USD

      CDXHY16V5.SR.XR.USD

      CDXHY17V5.SR.XR.USD

      CDXHY18V2.SR.XR.USD

      CDXHY19.SR.XR.USD

      CDXHY20.SR.XR.USD

      CDXHY21.SR.XR.USD

      CDXHY22.SR.XR.USD

      The initial processing date for this credit event will be today April 30, 2014. 

      Note: Since CME Clearing only offers index contracts there will be no single-name contract affected by this Credit Event, nor will there be a recovery swap made available for clearing on this single name.

      Another advisory notice will be published detailing next steps in the settlement process and re-versioning of the affected indices

      If you have questions, please contact the CME Client Services Team at onboarding@cmegroup.com.

      For the printer friendly version of this advisory, please click here.

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